CityDev (C09.SG) remains top percentage decliner among Singapore blue chips, off 4.7% at $10.92, extending yesterday’s 4.2% loss, as stock deemed most vulnerable to latest property-market curbs with developer having largest land bank in country, says Dow Jones.

Negative momentum gaining strength as volume more than 3x average volume of 1.6 million shares over last 50 days. Stock now below 200-day moving average, a bearish signal. Near-term support at $10.56 (June 30 low).

CIMB, which has Underperform call with $10.57, says every 10% fall in average selling prices could reduce RNAV estimate by 5.0%. “We believe the sector has yet to see the peak of policy risks,” says the research house.

Tips capital-gains tax, credit restrictions for foreign buyers as potential measures government may take if home prices, sales continue to climb.