As market watchers continue searching for someone or something to blame for this week’s sell-off in global markets, many seem to agree on one thing: There are stocks worth picking up on the dip.
Major money managers such as BlackRock, Amundi and Credit Suisse have said the ongoing turmoil in stock markets was not caused by a change in economic fundamentals. Instead, the narrative of a “synchronized global growth” still rings true underneath the sea of red, they said.
But this week’s sudden pullback is a reminder of the importance of portfolio diversification, and a number of Asian names have emerged as “defensive” stocks that could withstand the current volatility.
“While for the time being we remain cautious, we will be ready to actively exploit opportunities which could be brought by this wave of volatility resurgence,” Amundi Asset Management said in a note.
Some have even drawn up their shopping lists, here’s what they contain:
