Singapore Hot Stocks-Yanlord hits record low on graft reports

SINGAPORE, Sept 25 (Reuters) - Shares of Yanlord Land (YNLG.SI), a developer of luxury homes in China, fell as much as 9.6 percent on Thursday to an all-time low on media reports linking it to graft charges against a Chinese official.

Yanlord, which saw its shares plunge over 20 percent on Wednesday before it called for a trading halt, denied the reports in a statement issued early Thursday. [ID:nSIN346287]

"The outlook for Chinese developers is already not optimistic because of the poor China property market. This is even more bad news for Yanlord and it's causing a knee-jerk reaction by investors," said DMG & Partners analyst Brandon Lee.

Yanlord shares fell to a record low of S$0.94 early Thursday after resuming trade. At 0350GMT, the stock was down 4.3 percent at S$0.995 with 29 million shares changing hands.

0350 GMT - Straits Times Index was down 0.8 percent. The index for Singapore-listed China stocks .FTFSTC was 0.7 percent lower.

(Reporting by Daryl Loo; Editing by Jennifer Tan)