BlackRock is bullish on Asian telecom for 2020, says it bought stocks it had 'not touched in years'

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The asset manager says telco stocks will prove resilient and expects the group to meet or even 'modestly best' earnings expectations.

Turning the spotlight on the sector in its outlook report for 2020, BlackRock's head of global emerging markets equities Andrew Swan wrote: "We have bought telecom stocks we had not touched in years."

Swan says, "A typical BlackRock Asian equity portfolio exposure to telecom is now in the high single digits." "In this environment Telecom stocks provide earnings resilience especially where they have the ability to fend off pricing competition or benefit from growth initiatives in 5G," he wrote in an email to CNBC.

A 5G communication technology booth at the China International Import Expo on November 7, 2018 in Shanghai, China.Telecommunications stocks in Asia could be the next area of opportunity for investors in 2020, according to BlackRock. Turning the spotlight on the sector in its outlook report for 2020, BlackRock's head of global emerging markets equities Andrew Swan wrote: "We have bought telecom stocks we had not touched in years ... A typical BlackRock Asian equity portfolio exposure to telecom is now in the high single digits."

 

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