Sectors impacted by Covid-19 seen rebounding sharply

Kenanga said sectors that are directly impacted, such as tourism and retail, are likely to recover as sharply as they have fallen. Its top picks for the lion-hearted are Genting Bhd (target price RM7), Genting Malaysia Bhd (target price RM3.30) and Malaysia Airports Holdings Bhd (target price RM9.90), all of which were rated “outperform.”

PETALING JAYA: The transitory nature of the coronavirus disease (Covid-19) has resulted in extended post-Chinese New Year closures of factories and other establishments, especially in China which has disrupted the supply chain, but work is returning, albeit gradually.

Kenanga Research said that in the Severe Acute Respiratory Syndrome (SARS) experience in 2003, markets actually rebounded around the time when the number of daily cases peaked.