Fidelity, Goldman Find Tariff Haven in Asian Consumer Stocks
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The global trade war is providing a boon for Asian consumer stocks, as investors take shelter in companies that cater to local buyers’ essential needs.
Strategists at Goldman Sachs Group Inc. and Morgan Stanley recommended Asian consumer staples in reports released after the April 2 tariff barrage, urging investors to turn defensive. Fidelity International said it snapped up battered Chinese consumer stocks, betting the companies will benefit from government stimulus.