Telcos offer defensive buys when market is down
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Annabeth Leow
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WITH more Singaporeans staying home amid the outbreak of the novel coronavirus, the adage that telecoms are a defensive play could take on new life in a digital age.
In a note on Monday, DBS analysts Yeo Kee Yan and Janice Chua advocated investing in a mix of defensive counters for their yield and beaten-down stocks that should recover smartly once the virus is brought under control.
As far as defensive play is concerned, few are better than telcos, in their view. Fibre broadband provider Netlink NBN Trust and mainboard-listed telco Singtel were some of the house's defensive picks.
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