SINGAPORE, April 28 Singapore shares started the
week on a low note on Monday, weighed down by increasing
tensions in Ukraine and after a dismal week in Wall Street,
while shares of Capitaland Ltd slipped after the
company's weak earnings.
The benchmark Straits Times Index eased 0.2 percent
to 3,260.38, while MSCI's broadest index of Asia-Pacific shares
outside Japan was flat.
Shares of CapitaLand, Southeast Asia's largest property
developer, slipped 0.6 percent after its first-quarter profit
dropped 1.7 percent due mainly to lacklustre sales from its
Singapore unit, the company said on Friday.
Brokerage OCBC kept its "buy" rating on CapitaLand's stock
despite the weaker earnings, saying it expected the run-rate to
pick up as the group pushes to sell its remaining inventory by
adjusting prices at slower projects. The brokerage left the
target price unchanged at S$3.79.
Among other stocks, Wilmar International Ltd edged
down slightly after the company made a takeover bid for food
firm Goodman Fielder, which the Australian company
rejected as undervalued.
Wilmar shares dropped 0.3 percent to S$3.5, while Goodman
Fielder jumped 18 percent to match the offer price of A$0.65 per
share, a 2-1/2 month high.
(Reporting by Andrew Toh; Editing by Prateek Chatterjee)