Singapore shares fell, snapping four consecutive sessions of gains, with property stocks CapitaLand and City Developments among the biggest decliners, weighed by new cooling measures in the city-state.
The Straits Times Index was down 0.4% at 3,138.32 points, while MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3% lower.
Shares of CapitaLand, Southeast Asia’s biggest property developer, fell as much as 2.6%. City Developments shares declined as much as 1.5%.
Shares of Sino Grandness Food Industry Group bucked the trend, surging after the company said it was planning to list its beverage business on an “internationally recognised stock exchange” and had received no objection from the Singapore Exchange.
The stock jumped as much as 12.5% to $1.44, the highest since June 10. Some 4.6 million shares were traded, 2.8 times the average full-day volume over the past 30 days.
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