Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC starts CapitaRetail China at buy

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STOCKS NEWS SINGAPORE-OCBC starts CapitaRetail China at buy May 18th 2012, 03:50 Thu May 17, 2012 11:50pm EDT OCBC Investment Research has initiated coverage on CapitaRetail China Trust (CRCT) with a buy rating and price target of S$1.44 a unit. CRCT, which owns malls in China, was last traded at S$1.265, down 0.8 percent from Thursday. The trust has gained about 10 percent so far this year. OCBC said CRCT offers growth through both acquisition and asset enhancement. Its mall, which are positioned as one-stop family-oriented shopping, dining and entertainment destinations for areas with large population catchment, also benefit from rising consumption. From 2011 fiscal year figures, CRCT's portfolio has an average property yield of 6.5 percent based on book valuation, which OCBC said is attractive compared to Singapore retail property yields of around 5-6 percent. "Consumption is likely to overtake investment as China's largest driver of growth in 2012 for the first time in over a decade," OCBC said. 1132 (0332 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 09:35 STOCKS NEWS SINGAPORE-Singapore shares drop to 4-mth low (Adds move in commodity stocks) Singapore shares fell to a four-month low early on Friday, in line with the regional trend, weighed by concerns about an escalating banking crisis in Spain, political uncertainty in Greece and sluggish economic data from the United States. The Straits Times Index .FTSTI dropped as much as 1.9 percent to around 2,769 points, the lowest since Jan 17. MSCI's broadest index of Asia-Pacific shares outside Japan shed 2.2 percent. The biggest drag on the index were local banks DBS Group Holdings, Oversea-Chinese Banking Corp and United Overseas Bank. Commodities stocks were hit hard. Wilmar International and Golden Agri-Resources fell more than 4 percent each, while Olam International gave up 2.3 percent. 0927 (0127 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:41 STOCKS NEWS SINGAPORE-Index futures down 1.7 pct Singapore index futures fell 1.7 percent early on Friday, indicating a weak start for the benchmark Straits Times Index. Tokyo and Seoul shares are down sharply, weighed by concerns about an escalating banking crisis in Spain and political uncertainty in Greece. 0839 (0039) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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