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3 defensive plays to tide investors over a volatile 2019: RHB

Michelle Zhu
Michelle Zhu1/23/2019 10:49 AM GMT+08  • 2 min read
3 defensive plays to tide investors over a volatile 2019: RHB
SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity,
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SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity, and/or with strong balance sheets.

This comes post recent Singapore equity strategy investor meetings in Malaysia and Singapore, where RHB found that investors generally agreed with its stance of building defensive positions in Singapore.

“Investors agreed that STI’s forward P/E of 12.3x (at -1SD), +4% index EPS growth, and expectations of gradual appreciation in the SGD against the USD made Singapore an inexpensive market to invest in,” says analyst Shekhar Jaiswal in a Wednesday report.

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