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Singapore shares were flat at midday on Thursday, weighed by China’s fresh measures to cool the property market, but container shipping firm Neptune Orient Lines (NEPS.SI) led gains on hopes it will report strong earnings.
By the midday break, the Straits Times Index (STI) <.FTSTI> was up 3.26 points at 3,224.04. The total value of shares traded in the morning session was $838.8 million, up from $815.1 million on Wednesday.
By the midday break, the Straits Times Index (STI) <.FTSTI> was up 3.26 points at 3,224.04. The total value of shares traded in the morning session was $838.8 million, up from $815.1 million on Wednesday.
“The STI rose a lot yesterday and outperformed other Asian bourses, so it’s only right that further gains are more muted today,” said Gab
Gan said he expects the STI to see further upside in the 3,250-3,280 point band in the next week.
China property developers such as Yanlord Land (YNLG.SI) and property firms with exposure to the mainland, like CapitaLand (CATL.SI), fell after China unveiled fresh measures to curb property prices.
