CapitaLand (C31.SG) pares gains, +0.3% at $3.70 on light volume vs $3.74 high earlier, as buying conviction remains low despite 9.1% pullback since beginning 4Q10 vs STI +3.2% over same period.

Demand for developer’s latest Singapore residential project d’Leedon not rubbing off on shares. 200 units offered for sale yesterday under phase 1 of launch, with more than half taken up.