CapitaMall Trust (C38U.SG) pares gains, flat at $1.96 vs $1.98 intraday high, with investors digesting 6.5% rise over last 2 days.

Recent gains follow sustained decline from around mid-November on broad market weakness.

“CMT’s recent share price weakness presents an excellent entry opportunity in our view,” says CLSA, which has Buy call with $2.25 target. Adds “no significant negative newsflow”, healthy business fundamentals should allay investors’ concerns; “we continue to believe CMT is still a strong beneficiary of the booming tourism outlook experienced in Singapore.”

Immediate resistance at $2.00, support at $1.82 low set this week.