Singapore property counters’ sharp drops Monday may have been an over-reaction to the government’s move to tighten mortgage lending, says Wilson Liew, an analyst at Maybank-Kim Eng.
“Most market watchers agree that the short-term impact is likely to be minimal,” he says, adding, after Monday’s knee-jerk selloff, “the market has gone in to buy back the shares.”
CapitaLand is up 0.3% at $3.20 after falling 3.3% Monday, while City Developments is up 0.6% at $11.74 after shedding 2.3% Monday.
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