STI 3,217 -9 -0.29%
DOW 13,488 +17 +0.12%
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CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.17 (10 Jan 2013)
CREDIT SUISSE GLOBAL RISK APPETITE : 3.62 (10 Jan 2013)
14 Jan 2013 08:43
DJ MARKET TALK: Singapore Shares Likely Lower; Property Plays Eyed
0043 GMT [Dow Jones] Singapore's shares are likely to open lower on Monday with property developers taking the knock after the government announced a fresh round of cooling measures on Friday. The measures are "negative for developer stocks on margin concerns and slower volumes, especially those who have bought land at high prices planning to sell at significantly higher prices," Barclays Research says in a note. However, the steps may drive investors into real estate investment trusts, it adds. Property developers including
CapitaLand (
C31.SG) and
City Developments(
C09.SG) are likely to be in focus. The STI closed 0.3% lower at 3216.50 on Friday. Late Friday, the government announced an across the board increase in a tax on buying residential property and made it more difficult to take loans to buy a house -- its most comprehensive set of property cooling measures since it started taking steps to curb speculation in Sept. 2009.
MISCELLANEOUS :: EZRA STARTS FY13 WITH 54% SURGE IN REVENUE AND 44% JUMP IN GROSS PROFIT