Asean Strategy: Daiwa has strategy report. Note that Asean mkts tend to outperform when global economic growth slows. Consumer durables, financials and telecoms are likely to take sector leadership, while Malaysia looks most defensive. Recommends to focus on strong balance sheets and stay safe…..
House sticking with asset allocation of having the biggest Overweight on Malaysia, marginal Overweight on Indonesia, and Neutral on Singapore and Thailand. For SG, recommends Genting SP, DBS, UOB, OCBC, M1 and Starhub
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