Consumer-related stocks are expected to be under pressure as purchasing power has been capped due to the current hike in Covid-19 cases. — Bernama pic
An analyst said a similar situation was seen during the early phase of the movement control order in March and April where retail statistics showed a muted trend over the duration. “This has led to a decline in demand for all consumer products across the board while the tourism sector, that is just about to reopen, has to deal with another wave in their operations,” she said.
“Investors that are hoping that the vaccine will be available soon will have to recalibrate their outlook as scientists increasingly warn of a long and difficult road ahead,” she said.
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