US President Trump said last Friday that the US will impose tariffs of US$50 billion ($67.8 billion) on Chinese imports, with the first wave of duties to cover US$34 billion of goods starting July 6.
SINGAPORE (June 20): UOB KayHian is maintaining its “buy” on CITIC Envirotech (CEL) given there is no chance of the stock being caught in the crossfire of the escalating US-China trade war.
While China’s export-oriented firms may suffer, CEL has a defensive environmental business and government contracts with new order wins pushing to RMB2.7 billion ($565.5 million) year-to-date.
