Macquarie tips on stocks to pick.

(From Business Times (Malaysia))

Byline: Chong Pooi Koon

MACQUARIE Research, turning cautious on Asian stocks as global growth slows, is advising investors to overweight defensive markets such as Malaysia and Singapore over a one-year period.

"We have been defensive since April 27 and are cautious in stocks selection, both country and sector," equity strategist Tim Rocks said.

Macquarie Research is part of the Australia-based Macquarie Group.

"Cheap countries do best when global growth falls," he told a briefing on Macquarie's Asia strategy in Kuala Lumpur yesterday.

His recommendation to overweight Malaysia and Singapore …