With market volatility set to continue into 2025, Alfie Yeo, RHB Singapore’s head of small-mid cap research, is leaning towards defensive picks in this year’s 20 Jewels Edition, which puts the spotlight on Singapore-listed small-cap stocks.
“We used a top-down and a bottom-up approach,” says Yeo. For the top-down approach, the analyst went with the theme of US tariffs, which have caused volatility in the market. Therefore, the selection was focused on sectors that were relatively shielded from it. From a bottom-up perspective, these stocks exhibit at least one fundamental characteristic such as compelling valuation, the ability to generate cash, event-driven catalysts or a strong balance sheet, he adds in the report’s foreword.
