Singapore Stocks-May open higher; CapitaLand in focus

SINGAPORE, Dec 7 (Reuters) - Singapore shares may open
higher on Wednesday, following gains on Wall Street overnight as
investors bet European leaders would take strong steps this week
to stem the region's debt crisis.
Southeast Asia's largest property developer CapitaLand Ltd
may be in focus after it said it had sold a 100
percent stake in a China unit for about S$173 million ($134.8
million).

----------------------MARKET SNAPSHOT @ 2353 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1258.47 0.11% 1.390
USD/JPY 77.75 0.05% 0.040
10-YR US TSY YLD 2.0909 -- 0.005
SPOT GOLD 1726.5 -0.07% -1.150
US CRUDE 101.21 -0.07% -0.070
DOW JONES 12150.13 0.43% 52.30
ASIA ADRS 118.33 -0.76% -0.91
-------------------------------------------------------------

> Wall St rises on EU summit hopes
> Prices slip, volumes light ahead of ECB meeting
> Euro off lows; lot rides on EU events
> Gold rises on S&P credit downgrade warning
> U.S. crude up slightly on big API stock draw

Stocks and factors to watch:
-- CHIP ENG SENG CORP LTD
- Property developer Chip Eng Seng said its wholly-owned
subsidiary has been awarded the land parcel at the junction of
Jalan Bukit Merah and Alexandra Road in Singapore for S$189
million.

-- CITY DEVELOPMENTS LTD
- The tender for the development of a residential site at
Alexandra Road in Singapore closed on Tuesday with seven bids,
the Urban Redevelopment Authority said, with a top bid of S$396
million jointly submitted by a consortium consisting of City
Developments, Hong Leong Group and Hong Realty.

-- KEPPEL TELECOMMUNICATIONS & TRANSPORTATION LTD
- Keppel T&T said its wholly-owned subsidiary has formed a
joint venture with Securus Data Property Fund Pte Ltd to own,
manage and operate a data centre in Sydney, Australia that it
bought for A$60 million ($61.31 million). Keppel T&T will have a
30 percent stake in the joint venture.

- Singapore's benchmark Straits Times Index fell
0.61 percent to 2,749.24 points on Tuesday.
- The Dow Jones industrial average gained 0.43
percent to 12,150.13. The Standard & Poor's 500 Index
rose 0.11 percent to 1,258.47. The Nasdaq Composite Index
dropped 0.23 percent to 2,649.56.
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($1 = 1.2831 Singapore dollars)
($1 = 0.9787 Australian dollars)

(Reporting by Charmian Kok; Editing by Ron Popeski)