SINGAPORE (Nov 30): OCBC is upgrading CapitaLand Mall Trust to a “buy” after its share price corrected 8.5% after market jitters resurfaced over the possibility of a Fed lift-off in Dec this year on a strong Oct jobs data report.

In a Monday report, analyst Andy Wong Teck Ching says, “At current price levels, we believe the market has adequately priced in the risks associated with an interest rate hike as well as headwinds facing the retail sector in Singapore.”

Wong says CMT’s management is constantly seeking to enhance the value of its portfolio by carrying out asset rejuvenation works and tenant repositioning exercises.

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