12May
SGX2

Financial Sgx Singapore Stock Market Trading Picks And News – 12th May 2014

MARKET UPDATES

Real estate investment trusts in Singapore with growing exposures overseas in places like China, Japan and Australia are bucking the trend of lower returns at home where the city-state’s market has been slowing. Known as S-Reits, the US$49 billion sector, Asia’s second-largest after Japan, fared poorly in 2013. Jitters about the end of the US Federal Reserve’s stimulus programme and a series of moves by the Singaporean government to cool the property market raised concerns the trusts would lose their appeal to yield-hungry investors.

FORTUNE Real Estate Investment Trust (Reit)’s shares rallied on Friday, after the trust posted a 15.3 per cent rise in first-quarter distribution per unit (DPU) the previous day. Fortune Reit opened at HK$6.25, and extended gains to trade around HK$6.49, up by more than 4 per cent, or 27 HK cents, by 10.06 am. On Thursday, Fortune Reit said its income available for distribution rose 26.5 per cent to HK$193.9 million, or 10.38 HK cents per unit, for the January-to-March period, thanks to new property and rental reversions. Net property income increased to HK$289.2 million as the retail property trust recognised income from Fortune Kingswood, which was acquired in October 2013.

STOCK RECOMMENDATION:

  • BUY HONGKONG LAND ABOVE 6.800 TG 6.870, 6.950, 7.050 SL 6.700

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