Singapore Property Stocks to Extend 2012 Rally: Southeast Asia
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Singapore property stocks, the best performers on the benchmark Straits Times Index this year, are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to UOB-Kay Hian Pte.
Six out of top 10 gainers on the 30-member gauge are real estate-related stocks, led by CapitaLand Ltd., Southeast Asia’s biggest developer, and its retail property unit CapitaMalls Asia Ltd. The benchmark’s property index, which tracks 40 developers, gained 48 percent this year, its best performance since 2009.