Brokers' take

Keppel Corp > Hold UOB Kay Hian, Aug 24 Aug 24 close: S$6.65 Target price: S$7.37

CHINA property sales remain resilient. According to China's National Bureau of Statistics, national property sales volume saw a 4.2 per cent y-o-y increase for 7M 2018, with sales value up 14.4 per cent y-o-y.

Demand for property is becoming increasingly speculative, with 50 per cent of purchases for investment purposes, as compared to 38 per cent in 2017.