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BofA Says Stocks Flash Sell Signal After Cash Holdings Tumble

(Bloomberg) -- Fund managers have been reducing cash holdings to a record low and pouring money into US stocks, triggering a metric that Bank of America Corp. says could be a signal to sell global equities. Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearCash as a percentage of total assets under management dropped to 3.9% in December, a move that in the past has been follo

New World loses more market value as developer strives to contain debt crisis

New World Development (NWD) can't seem to catch a break. Two rounds of top management shake-up to tackle its debt load and the loss of blue-chip stock status are threatening to spiral into a crisis of confidence. The stock slumped 1.2 per cent on Tuesday to HK$5.65, bringing the losses this year to more than 50 per cent while the benchmark Hang Seng Index advanced 17 per cent. The highly indebted developer is said to have sent out a letter to its bank lenders, seeking a waiver on loan conditions