Singapore shares manage to pare losses as gains by closely-watched China bourses supportive. Still, participation low as volume only 667.1 million shares worth $535.7 million. 

STI off 0.1% at 3192.69 midday vs 3183.04 morning low, expected to end above current 3150 November trough.

Despite modest pullback, BNP Paribas says downside risks for Singapore market remain; “the Singapore market has the second-highest weighting towards banks in the region after Thailand. As such, government efforts to rein in the real estate sector in combination with the ongoing challenges local banks face...will act as a drag on the broader market.” 

 

Property stocks down as HK’s property curbs underpin concerns Singapore may dish out more measures to rein in home prices; FTSE ST Real Estate Holding & Development Index off 0.7%. CityDev (C09.SG) off 2.9% at $12.62, Hongkong Land (H78.SG) off 1.5% at US$6.75 ($8.73), CapitaLand (C31.SG) off 0.5% at $3.78.