Singapore Hot Stocks

Singapore Hot Stocks-Yongnam Holdings rises on contract wins
Tue Nov 6, 2007 8:38pm ET

SINGAPORE, Nov 7 (Reuters) - Shares of construction firm Yongnam Holdings (YNAM.SI: Quote, Profile , Research) rose as much as 6.7 percent to S$0.40 with 17.6 million shares traded after the firm announced contract wins worth S$90 million.

Yongnam said in a statement that it had won infrastructure and building development contracts from three high-profile Singapore projects. [ID:nSNB681641]

0133 GMT- Straits Times Index <.STI> up 0.80 percent.

HONGKONG LAND UP ON BROKER UPGRADE

Shares of Hongkong Land (HKLD.SI: Quote, Profile , Research) rose as much 4.5 percent to $5.10 with 1.3 million shares traded after JPMorgan raised its investment recommendation for the stock to "overweight" from "neutral", citing rising property values in Hong Kong's central district.

JPMorgan also raised Hongkong Land's price target to $5.70 saying that that the property firm was a preferred play amongst property investors.

"The stock is one of the key beneficiaries of the two-tier property market, especially for properties in Hong Kong Central," said JPMorgan analyst Lucia Kwong.

0115 GMT- Straits Times Index <.STI> up 0.82 percent.