Nov. 27 (Bloomberg) -- Dubai, the Persian Gulf emirate whose state-run companies are seeking to defer debt payments, may owe more than the $80 billion to $90 billion in liabilities assumed by investors, UBS AG analysts said.
“Perhaps Dubai’s debt includes sizeable off-balance sheet liabilities that imply a total debt burden well above the $80 billion to $90 billion markets have estimated so far,” Dubai- based real estate analyst Saud Masud wrote in a note. “This could imply that the debt issued by Dubai in recent weeks is insufficient to meet upcoming redemptions."
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Following the news, there were a large decline in the global markets mainly due to the great drop of banks stocks which led to everyone's fear about the future stock markets. HSI could not avoid going downwards on Friday, however, there is a question that everyone would like to know the answer: will this stop here and rebound? or would this news lead to great drop just like bursting a bubble? Let's see the below chart:
We can see that HSI has still not yet penetrated through the Ichimoku cloud. It still shows that the upward-trend has not yet been reversed. However, we still have to wait as it may go further downwards on Monday which may break the cloud. If HSI really drops below 21000 and has no signals of retrieving, please sell most of your stock as the trend has changed to downward-trend.
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