SINGAPORE (Dec 17): DBS Vickers Securities is “overweight” on the consumer goods sector, on the belief that F&B and retail services in Singapore are likely to outperform other cyclical industries amid trade-war related uncertainties in 2019.

In a Nov 26 report entitled 2019 Outlook and Strategy, analyst Alfie Yeo that the consumer sector’s valuation – based on stocks under DBS’s coverage – is currently about -0.7 times below its five-year historical average at 21.7 times P/E.

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