Market watchers say individuals should invest carefully in a market that has suffered its biggest two-day loss in a decade, sticking to industry leaders, utilities and property stocks. 'Hong Kong's stocks have tumbled in the last two days on concerns about the global economic slowdown, and many investors are shying away from the market,' Yiu Chin, financial analysis director of Altruist Financial Group, said. Those planning to enter the market should turn to stocks 'having nothing to do with the US subprime issue and with a big potential to grow', he said. 'Industry leaders such as China Mobile are a good choice, and property plays like Sun Hung Kai Properties and MTR should also do fine later as they will benefit from a possible new round of interest rate cuts by the US Federal Reserve.' Still, China Mobile, the world's largest wireless service provider, saw its shares fall 7.48 per cent yesterday to HK$108.90. Sun Hung Kai Properties and MTR also went down, Sun Hung Kai by 6.22 per cent to HK$141.70, and MTR by 11.37 per cent to HK$28.05. Retail investor Karmen Szeto saw the stocks slump as a 'good chance to tap into the market'. She said: 'I will invest in blue-chip stocks such as China Mobile as its price is getting a bit lower now. As the market rebounds later, its price will bounce back even higher because the company's fundamentals are very solid.' Peter Pat Ngan, research vice-president at Bank of China International, also said buying blue chips would be a 'wise choice' if investors retained their holdings in spite of poor market sentiment. He said China Life Insurance would also do fine in the long term. Shares of China Life Insurance, the country's biggest life insurance underwriter, fell 15.98 per cent to HK$27.6 yesterday. He conceded it was hard to find any really 'defensive stocks' because weak sentiment made defensive plays 'not as defensive as before ... All stocks, including blue chips, have tumbled, and how can defensive stocks be immune?' Utility stocks, often regarded as 'defensive plays', slid yesterday. CLP dipped 4.23 per cent to HK$57.80, and Hongkong Electric fell 1.03 per cent to HK$43.25.