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via EdgeSingapore RSS on 6/8/09
DMG & Partners Securities said it has upgraded its rating on the property sector to "overweight" from "neutral", saying the recovery in housing demand looks sustainable as foreign buyers are slowly returning. City Developments (CIT SP), the city's second biggest developer, gained 1.5% to $9.08. Allgreen Properties (AG SP), the developer controlled by Malaysian billionaire Robert Kuok, rose 4.2% to 99 cents. Keppel Land (KPLD SP), partly owned by Keppel Corp., jumped 3.4% to $2.42.
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