Meanwhile, the analysts have cut losses on BRC Asia as temporary stop-work orders caused by its recent workplace incidents are expected to affect its construction activities and delivery volumes. The analysts have also removed Frencken from its portfolio as they expect “weak sentiment towards tech stocks amid the rising interest environment”.
UOB Kay Hian has added Thai Beverage (ThaiBev) and ComfortDelGro (CDG) to its alpha picks portfolio for the month of October.
“Both are set to benefit from demand recovery from the economic reopening and removal of Covid-19 measures, and the recent share price weaknesses have made their valuation more compelling,” write the analysts at UOB Kay Hian in their Oct 4 report.
