The market is hit by Dubai world's decision to delay debt payment (the news came out yesterday but the market react today). The market still not sure if the Government (especially Abu Dhabi) would bail them out. If not, all emerging market bond will stock market will get hit and U$ will go up violently for short term. Gold probably will go down first but shot up again because U.S has to print more money to prevent the problem spread. It is worth watching closely. Vietnam just became the first country in Asia raised its interest rate and devalued it currency by 5%. The global financial system is in shaking ground.
At this moment, the downside risk is more than upside potential. I sold 200 HSE @ 28.05 today and bought 300 HXD @13 all in Canadian portfolio.
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