Defensive stocks among top picks for this month

TheStar Tue, May 10, 2022 08:30am - 1 year View Original


Plantation, E&E and gaming firms may see higher profits

KUALA LUMPUR: Defensive stocks with high dividend yields and are beneficiaries of the strong US dollar may most likely become market winners in the short to medium term.

Some stock picks for this month by UOB Kay Hian Research indicated that the stocks are also beneficiaries of the reopening of the country’s border and stronger US dollar against the ringgit.

“While the market mindset is focused on capital preservation as the US quantitative tightening unfolds, we foresee modest capital gains from selected beneficiaries of the US dollar which had appreciated some 3.6% in April compared with the ringgit.

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