0644 GMT - Shares of Singapore developers could gain amid an active private-housing market in the country, CGS-CIMB says. The broker notes January-October private-apartment transactions totaled 11,150 units, up 34% on year, and close to its 12,000-unit full-year transaction volume estimate. The active market should boost developers' earnings and improve investor sentiment, with CGS-CIMB preferring developers with visible residential project pipelines and strong balance sheets. Healthy property sales of new launches could prompt a positive sector re-rating, it adds. CGS-CIMB keeps an overweight rating on the sector, with top picks City Developments and UOL Group. (yongchang.chin@wsj.com)
Singapore Developer Shares Could Gain Amid Active Housing Market -- Market Talk
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