Manulife Investment Management has advised investors to take a “cautious approach” to investing in the country’s equities market as it may visit the bear territory.
“Again, it’s more of a cautious approach, adding some duration lowering equity weights, we’re still so from a technical perspective. We’re still seeing markets in that sort of bear phase and retesting that 6,000 level on the composite, I think is expected as well,” he said. A bear market is when the main index lost 20 percent from its starting point of the year.
“I think I’ve stressed this point is that it’s a much more domestically oriented economy less exposed to the whims of external volatility. So 70 percent of GDP is private consumption,” Trinh said.
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