Find out who the biggest losers were.
According to KGI Fraser, the sell down in markets was broad based, with US markets declining 6%, oil futures lower by 10% and the STI down by 5%.
In local markets, among the biggest losers declining 5 to 15% for the week were Offshore & Marine stocks (Keppel, Sembcorp Industries, Yangzijiang) and banks (UOB, DBS, OCBC), KGI Fraser said.
Here’s more from KGI Fraser:
We would accumulate high yielding dividend stocks (>7%), notably Croesus Retail Trust ($0.805; BUY TP $0.91), Soilbuild Business Space REIT ($0.755; BUY TP $0.87) and Valuetronics ($0.40; BUY TP $0.67).
Among the banks, OCBC's ($8.4; BUY TP $10.0) 4% dividend yield and trough valuations (i.e. P/B) may offer some support as it trades at its 3 years lows.
In the O&M sector, Triyards' ($0.49; BUY TP $0.55) record order book and revenue visibility for the next two years places it in an excellent positioned to weather the oil market downturn unscathed.
Do you know more about this story? Contact us anonymously through this link.