WATCH: Stock picks — Meituan and cash

David Shapiro, from Sasfin Securities, chose Meituan as his stock pick of the day and Makwe Masilela, from Makwe Fund Managers, chose cash.

Shapiro said: “I picked up Meituan, which is a very big food delivery company and service delivery company in China and I  was going through their results looking at their numbers — I mean, they have 560-million people who order, they operate in two Chinese cities delivering food, doing bookings and helping lifestyle etc. I think you can’t ignore the sheer size of china the size of the economy and the size of the consumers there.”

Masilela said: “If the government is really serious when it comes to infrastructure spend, then yes, I’ll definitely look at our construction companies, and PPC’s not looking too bad either, but truth be told I’m better off with cash.”

Source: businesslive.co.za