Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB says Singapore REITs attractive

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STOCKS NEWS SINGAPORE-CIMB says Singapore REITs attractive May 18th 2012, 04:25 Fri May 18, 2012 12:25am EDT CIMB Research said, amid volatile markets, Singapore real estate investment trusts (S-REITs) are compelling due to attractive yield spreads, a stable outlook and defensive property portfolios and debt profiles. CIMB said it prefers office S-REITs due to their relative valuations and a bottoming of the office cycle. Office landlords' bargaining positions have strengthened on sustained strong occupancy, rental stability and leasing take-up. CIMB maintained its overweight rating on the S-REITs sector. Its top picks are Suntec REIT, CapitaCommercial Trust and Frasers Commercial Trust. 1218 (0418 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 09:35 STOCKS NEWS SINGAPORE-Singapore shares drop to 4-mth low 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 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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