When defensive stocks are no longer a bear-market safe haven

KUALA LUMPUR: Defensive stocks such as utilities, consumer staples and healthcare are not such a good place to hide out anymore.

Indeed, for Phillip Capital Management Sdn Bhd chief investment officer Ang Kok Heng, there is no such thing as a defensive stock in current market conditions.

“Putting your money in the bank is a safer bet [for potentially higher returns] than investing in defensive stocks for now,” he told The Edge Financial Daily, pointing to today’s volatile, uncertain market and economic environment.