This is an update to my Singapore Stock Portfolio for the Month end of October 2011. For previous months, please see Singapore Stock Portfolio for the Month end of September 2011 Singapore Stock Portfolio for the Month end of August 2011 Just made some minor changes to the Portfolio, sold off CDL Hospitality some parts of Ascott, Cambridge and SPH. Also added  more positions to Ascendas, Mapletree Commercial, CapitalMall Trust at value prices. Most stocks have rallied quite nicely last month especially with the deal by ECB for Greece bondholders to voluntarily take a 50% discount on the bonds. However, focus has now shifted to Italy, which is a much bigger economy than Greece and fear continues to dominate the market. I don’t think the dark clouds are over and I will still tread cautiously, avoiding the cyclicals. CDL Hospitality – Sold it off at $1.58, representing approximately 15% ......