Singapore Hot Stocks-Keppel T&T falls on margin calls

SINGAPORE, Sept 26 (Reuters) - Shares of Keppel Telecommunications and Transportation (KTEL.SI), which designs and upgrades cable networks, fell by as much as 34 percent on Friday on forced selling.

Around 0325 GMT, the stock was down 31 percent at S$2.89 with 1.46 million shares traded.

"People were holding on in the hope of some positive corporate development, but now they're facing margin calls," said a Singapore dealer.

Keppel T&T's shares spiked 17 percent on 3 April.

The company is 80 percent owned by conglomerate Keppel Corp (KPLM.SI), whose shares are down 1.1 percent at 0325 GMT, in line with the one percent drop on the benchmark Straits Times index .FTSTI.

(Reporting by Yvonne Cheong; Editing by Kevin Lim)