SINGAPORE (Apr 8): Year to date, shares in Yangzijiang Shipbuilding have tanked some 22%. But market watchers are saying the group has been an unfair victim of “macro concerns”. 

Analysts at DBS Group Research note that despite operating in a cyclical industry, Yangzijiang has demonstrated its resilience during industry downturns, offering investors decent profits and dividends. 

“We believe the low valuation is unwarranted,” says DBS analyst Ho Pei Hwa in a Wednesday report.

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