Brokers' take

Industrials | Neutral OCBC Investment Research, Sept 13

In our local conglomerates/yards space, all stocks (Keppel Corp, Sembcorp Industries, Sembcorp Marine, Yangzijiang Shipbuilding (YZJ) are down year-to-date, with more volatility seen for YZJ and Sembcorp Marine.

YZJ is down 22 per cent year-to-date, underperforming the rest, but if we look at the stock's performance since mid- July (close to trough for the market and prior to most companies' Q3 results release), it has appreciated by 34 per cent, outperforming most local stocks by a wide margin.