I have been watching Midas as communicated with some of my clients. Singtel is another defensive stock that you can watch out for.
If STI is not able to maintain above 2900 for long, i expect some minor corrections again.
As usual, please remember to lock in your profits at uncertain times like this. Personally I am waiting for another correction before going long.
Some articles related to the above 2 stocks mentioned.
China economic planner approves 70 billion yuan worth of railway projects
By Reuters | 8 Sep, 2015, 12.36PM IST
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READ MORE ON » The National | Railway | National Development and Reform Commission | infrastructure | economic planner | China
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http://economictimes.indiatimes.com/articleshow/48867350.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Defensive telcos provide shelter amidst market rout
Valuations are now more attractive after sharp sell-offs.
Telecommunications stocks have emerged as defensive shelters after suffering a sharp sell-off in recent weeks.
According to UOB Kay Hian, telco stock prices are now more palatable after the recent share price corrections, while the downside from a reversal of yield compression has reduced significantly.
"Telcos are sturdy defensive stocks because demand for telecommunications services, being a basic necessity, is inelastic. Telcos in Singapore also have low gearing levels based on net debt/EBITDA," said UOB Kay Hian.
UOB Kay Hian believes that Singtel offers the best risk-reward trade-off because it has the highest average upside of 21.5%, and the lowest average downside of 31.6%.
"We started the year with many investors being complacent on the impact from the potential entry of a fourth mobile operator. The correction of 27.3% for M1 and 17.7% for StarHub from their recent peaks has skimmed the froth in share prices," said the report.
This transmission has been issued by a member of the UOB Kay Hian Group for the information of the addressee only and should not be reproduced and/or distributed to any other person. Each page attached hereto must be read in conjunction with any disclaimer which forms part of it. Unless otherwise stated, this transmission is neither an offer nor the solicitation of an offer to sell or purchase any investment. Its comments are based on information obtained from sources believed to be reliable but UOB Kay Hian Group makes no representations and accepts no responsibility or liability as to its completeness or accuracy.
