Singapore's Residential Sector Likely to See Limited Impact From Middle East Conflict — Market Talk

Singapore's residential sector is likely to see limited impact from the Middle East conflict, RHB Research's Vijay Natarajan says in a research report. Underlying demand-supply dynamics for the sector remain favorable, given an expected resident-population increase, low unsold inventory and low interest rates in Singapore, the analyst says. Property-developers' stocks will probably benefit from the government's Equity Market Development Program initiatives, says RHB Research. It views the recent sharp dips in developers' share prices as buying opportunities. RHB Research's top picks are City Developments and Coliwoo Holdings, which have buy ratings and target prices of S$11.20 and S$0.82, respectively. City Developments' shares are unchanged at S$8.44; Coliwoo shares are unchanged at S$0.50. (ronnie.harui@wsj.com)