Fund managers are avoiding big bets on banks and property stocks, anticipating a potential earnings downturn from those sectors, which they believe are more susceptible to a “lagged global economic slowdown” later this year.
In share price terms, it means those stocks will have to get cheaper before they become compelling investments again.
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Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at jo.tran@afr.com
