The second-quarter earnings season has begun with US banks, and FP USBANK-A is recommended to hold for further investment amid a sector rotation that is seeing money flow increasingly into value and defensive stocks. Strong capital markets business trends, good credit quality, and management's positive outlook on the economy in the second half of the year are factors supporting the financial sector. Meanwhile, KKP GHC-A is also recommended to hold, as the healthcare sector remains an interesting defensive growth play and could benefit from sector rotation if earnings from companies like Johnson & Johnson, UnitedHealth, and Abbott come in better than expected.