Nonetheless, it continues to see “pockets of opportunities” in companies with strong attributes and a bottom-up growth story.
SINGAPORE (Apr 5): RHB Research is maintaining its sector “overweight” on consumer stocks although it cautions of benign consumer sentiment for 2019, with Singaporeans expected to spend more prudently amid an uncertain macroeconomic outlook.
In the research house’s view, consumer confidence peaked early last year due to improved wealth effect and strong GDP growth towards end-2017; it believes GDP growth will moderate this year while the property market decelerates.
