SINGAPORE Feb 18 Global Logistic Properties Ltd
(GLP) outperformed a flat Singapore market on Tuesday,
while Asian markets slipped after China drained funds for the
first time in eight months.
The stock rose as much as 2.1 percent to its near four-week
high of S$2.89, making it the top traded by value. GLP had
reported a 49.7 percent year-on-year rise in third-quarter
profit at $186.1 million on Friday.
Shares of GLP were also headed for their biggest daily gain
in more than two months.
Brokerage Citi Research said GLP's "China operations
continued to record strong leasing performance", adding to its
consistently stable performance in Japan, and high lease ratio
and stable rent rate in Brazil.
Citi maintained a "buy" rating and target price of S$3.54
on the stock.
The benchmark Straits Times Index was almost
unchanged at 3,069.93 by 0456 GMT, while MSCI's index of
Asia-Pacific shares outside Japan was lower 0.1
percent. The Singapore index was trading at 29 percent of its
average full-day 30-day trading volume.
CapitaMall Trust gained as much as 1.4 percent to
a one-week high of S$1.84, making it the second-best performer
on the index.