Singapore’s main index edged lower, with property stocks bearing the brunt on market worries the government might come up with new measures to rein in the buoyant residential property sector.
The benchmark Straits Times Index Asian markets eased due to euro zone debt woes.
Shares of CapitaLand, Southeast Asia’s was down 0.5% to 2,978.1 points, after a higher open largest property developer, fell 1.4%, while its rival City Developments shed 1.4%.
Among gainers, K-REIT Asia gained 3.2% to $0.97, its highest in six months, boosted by a doubling of first quarter distribution per unit and upbeat broker reports.
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