Singapore Hot Stock

SINGAPORE, Nov 26 (Reuters) - China Energy may be in focus on Monday after Citigroup cut the share's target price, citing continued high global methanol prices. U.S. stocks rebounded on Friday in an abbreviated session as the start of holiday shopping lifted retail stocks, while progress in a plan to relieve the credit market's strain aided bank shares.
Stocks and factors to watch.

- Citigroup has lowered its target price for shares in alternative fuel maker China Energy to S$1.96 from S$2.30 but maintained its "buy" rating on the stock, citing expectations of improved margins in the first quarter of 2008. [ID:nSGC001455]

- Chinese residential property developer China New Town Development said it has entered into agreement to develop property in Changchun in Northeast China. [ID:nSNBN51801]

- Budget hotel operator Fragrance Group said it will propose a bonus issue of four bonus shares for one existing ordinary share held. The bonus share issue is subject to shareholder approval in a meeting early next year. [nSNBN31141]

- Bank of Communications Schroders Fund Management Co has won approval to launch funds for global securities investments, Chinese state media said. [ID:nSHA293674]

- Singapore and Malaysia will open the Singapore-Kuala Lumpur air route to budget airlines from February 1, the Singapore government said. [ID:nSIN56786]

- Singapore's monetary policy is appropriate for now and underlying inflation is in line with the country's Monetary Authority's forecasts, the deputy managing director of the authority, or central bank, said. [ID:nL23682343]

- Singapore's Straits Times Index rose 0.39 percent to 3,325.89 points on Friday.

- The Dow Jones Industrial average rose 1.42 percent to end at 12,980.88. The Nasdaq Composite Index jumped 1.34 percent to 2,596.60.