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Go for sold-down defensive stocks to navigate tricky trade war: KGI

PC Lee
PC Lee6/25/2018 03:38 PM GMT+08  • 2 min read
Go for sold-down defensive stocks to navigate tricky trade war: KGI
SINGAPORE (June 25): The Singapore stock market has been spooked by a few events recently, including US-China trade wars and Opec’s tussle with expanding oil production.
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SINGAPORE (June 25): The Singapore stock market has been spooked by a few events recently, including US-China trade wars and Opec’s tussle with expanding oil production.

Alongside these events are continued tightening by the Federal Reserve and a $37 billion injection into the financial by the PBoC to calm markets after US tariffs.

KGI says high yield spreads in Asia have been widening for the past three months, alongside a weakening of the CNH (offshore renminbi) and a yield curve that is close to inversion. Spreads between the 2 and 10-year treasuries are only trading around 35 bps now, a five-year low.

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