But though Arjuna Mahendran, MD and head of investment strategy at HSBC Private Bank is also bullish on telecoms, he is more cautious on the financial sector. He said to play it safe by sticking to defensive stocks.
(Watch interview at left)
"I would be cautious about the financial sector but certainly the defensives the telecoms, utilities, consumer goods staples, etc, are definitely looking very interesting right now," he said.
Mahendran also suggested that investors should have the key elements of their core portfolio in place because markets are expected to recover by the middle of next year. He differentiates the recovery of the credit and the equity markets, saying that in the near term, credit markets will likely recover earlier than equities.
Either way though, he sees both asset classes as good long-term investment opportunities.
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