Singapore shares are likely to fall on Friday, following losses on Wall Street overnight after the European Central bank dashed hopes it was prepared to take dramatic actions to contain the euro zone debt crisis.
The benchmark Straits Times Index dropped 1.95% on Thursday to 2,728.31 points. Here are some stocks and factors to watch, said Reuters:
Property stocks would remain under pressure for the second day, reacting to new government measures earlier this week to cool the city-state’s real estate market. Property developer City Developments said the government’s latest measures to cool the city-state’s housing prices will have a dampening effect on the real estate market, but would have limited impact on the company.
A Singapore government land tender on Thursday drew a massive 22 bids, the Urban Redevelopment Authority said, signalling developers remained keen to acquire new sites despite tough new measures to cool the city-state’s housing market.
Ascendas Real Estate Investment Trust, which owns industrial properties, said on Thursday it has completed the acquisition of two assets in Singapore for a total of $179 million.
Structural steel contractor Yongnam Holdings said it has secured three contracts worth a total of $29.3 million for construction works on a train network and two sub-contract works for a petrochemical plant on Jurong Island in Singapore.
No comments:
Post a Comment