SINGAPORE (Oct 6): If Singapore falls into a technical recession, as many economists now expect, telecommunications stocks could be a good place to hide, UOB Kay Hian says in a note.

The brokerage says telecom stocks have a 73% chance of outperforming the MSCI Singapore Index during a recession.

In past recessions, M1 outperformed the index by an average 3.2% a quarter, while Starhub and Singtel did 3.8% and 5.9% better, respectively.

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