At the same time, stocks that have exposures of over 10% to Vietnam, Malaysia and Thailand, may be negatively impacted. These are: Aztech, Food Empire Holdings (SGX:F03
) , Frencken, Hong Leong Asia (SGX:H22) , Oversea-Chinese Banking Corporation (OCBC), Riverstone, Thai Beverage (SGX:Y92) (ThaiBev), Venture Corp (or VMS), Frasers Property (SGX:TQ5) Limited, Keppel, Nanofilm, Sea and Grab. Vietnam, Malaysia and Thailand have been slapped with tariffs of 46%, 24% and 36% respectively.
CGS International analysts Lock Mun Yee and Lim Siew Khee are recommending investors adopt a “near-term risk-off strategy” amid the uncertainty in the global economy.
“[We prefer] stocks with more certainty in earnings, such as REITs and high dividend yield plays,” say the analysts in their April 4 report, with specific large-cap defensive names such as Singapore Telecommunications (SGX:Z74) (Singtel), Singapore Technologies Engineering (SGX:S63) (ST Engineering), CapitaLand Ascendas REIT (SGX:A17U) (CLAR) and Keppel DC REIT.
