Sembcorp Industries has been named by HSBC Global Research as one of the "preferred" Asian energy and utilities stocks that are possible "shelter" plays amid the worsening global trade war.
"Utilities and energy operators should be defensive against risks relating to trade policies and industrial demand. Hong Kong utilities are supported, while those in mainland China and the rest of Asia with resilient cash flows should exert yield qualities," says HSBC Global Research in an April 8 note.
Besides Sembcorp, the other five such companies are Hong Kong-based power generator CLP Holdings; multi-infrastructure player CK Infrastructure Holdings; China Yangtze Power, which is behind the Three Gorges; wind power leader China Longyuan Power Group Corp, and Korea's Hanwha Solutions.
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