BNP Paribas is not only the largest bank in France but is the world’s 8th largest bank by total assets. On Friday, analysts of BNP Paribas released a report. According to this report, identified the stocks worth buying during and after the coronavirus outbreak.
The list includes Chinese companies Tencent, Alibaba, Baidu, and JD.com. Moreover, it makes sense to invest in China Mobile as well as China Unicom.
Investors also should have a look at Indian IT companies such as Infosys, HCL Tech. Additionally, there are several other interesting companies from India, such as Bhariti Airtel and Marico Industries. These are stocks worth buying at the moment.
Let’s discuss the sectors and stocks worth buying during recovery.
Analysts from the BNP Paribas also identified the stocks that have the potential to strengthen their positions after recovery. Chinese companies such as Jiangsu Yanghe Brewery, Anta, Sports, Midea Group, etc. are some of the examples.
Investors should pay more attention to Samsung Electronics as well as SK Hynix. They should not forget about Hon Hai Precision Industry Co Ltd, known as Foxconn.
Stocks across Asia
On Monday, South Korea’s Kospi index fell by nearly 3.9%. It was the worst day since October 2018. In South Korea, confirmed cases surpassed more than 800.
In Italy, the main market index fell by more than 4.5% as the number of confirmed cases topped 200.
The current situation created additional pressure on the stock markets. Hong Kong’s Hang Seng index dropped 1.8%. Meanwhile, the Shanghai Composite declined by 0.4%.
Furthermore, a growing number of companies are warning that they will miss sales or profit targets due to coronavirus outbreak. Also, the falling demand for goods and services, as well as factory closures in China, are going to affect the global economy. Governments are trying to stabilize the situation, but it won’t be easy to mitigate the results of a virus outbreak.