KUALA LUMPUR (June 3): Consumer stocks and retail counters involved in consumer staples are most capable of withstanding the headwinds arising from the full-scale Movement Control Order (FMCO) that has been imposed for two weeks until June 14. Experts told theedgemarkets.com that businesses involved in the provision of consumer staples, as well as those who sell goods at more accessible price points will remain resilient. Moving forward, he expected retailer and consumer stocks involved in the sale of discretionary goods to continue being adversely impacted by poorer consumer sentiment. “I think generally consumer stocks under the essentials category should continue to do well. Besides the ongoing vaccination programme, sentiments will also be lifted by an anticipated loosening of movement restrictions, he said.

Source: The Edge Markets June 03, 2021 01:07 UTC