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STOCKS NEWS SINGAPORE-Index down slightly; property firms weigh
March 8, 2013 / 5:06 AM / in 5 years

STOCKS NEWS SINGAPORE-Index down slightly; property firms weigh

Singapore shares fell, weighed by developers such as CapitaLand Ltd on market talk about more government measures to cool the city-state’s property market.

The Straits Times Index was down 0.1 percent at 3,294.71 points, while MSCI’s broadest index of Asia Pacific shares outside Japan gained 0.3 percent.

CapitaLand, Southeast Asia’s largest property developer, was the worst performer on Friday, falling as much as 3.5 percent to S$3.60, the lowest since Dec. 19. Some 22 million shares changed hands, 2.1 times the average full-day volume over the past 30 days.

Other property counters also fell. City Developments Ltd declined 2.4 percent to S$11.13 and Keppel Land Ltd lost 1.7 percent to S$3.98.

Traders said shares of CapitaLand, which has significant exposure to China’s property sector, had also come under pressure after the world’s second-largest economy introduced more curbs in its housing market last week.

1259 (0459 GMT) Messaging:

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