In August, primary sales took a beating, dropping to 473 units after July’s bumper sales of 1,091 units (excluding executive condominiums). This could be attributed to the effect of the lunar seventh month, notes lead analyst Eli Lee in a Tuesday flash note. As for property curbs, Lee notes that the authorities has clarified that the tweaks of refinancing rules under the Total Debt Servicing Ratio (TSDR) rules is not considered an easing. This is a positive for both the balance sheets of the market and banks, notes Lee. Other stocks with “buy” calls include Hotel Properties (TP: S$4.83), KSH Holdings (TP: S$0.61), OUE (TP: S$2.17), UOL Group (TP: S$7.30) and Wing Tai Holdings (TP: S$2.37).

Source: The Edge Markets September 21, 2016 06:56 UTC