The uncertainty has led Morgan Stanley to reiterate its recommendation to buy dividend stocks.
The investment bank noted that the MSCI Asia Pacific ex-Japan High Dividend Index has slightly underperformed the MSCI Asia Pacific ex-Japan index in the second quarter of the year, albeit by only 0.34 percentage points.
"We still prefer Dividend stocks given cautious risk sentiment in Asia/EM and see support in valuations for quality dividend stocks due to their defensiveness.
Investor appetite on corporate reform and shareholder return theme in Asia/EM also remain high, which are likely to benefit dividend stocks."
The company provides distillery services and Morgan Stanley sees it benefitting from "improving demand for high-end products and mid-market brands."
Persons:
Morgan Stanley, Morgan, Wuliangye, — CNBC's Michael Bloom
Organizations:
Asia, UST, U.S . Treasury, Wuliangye Yibin Company, China's Shenzhen Stock Exchange, FTSE, G, Won, Korea Exchange, American
Locations:
Japan, Asia, Pacific, China, FTSE China, Korean, U.S