Singapore’s Straits Times Index dropped 0.9 percent to 3,147.20 at the close. Almost four stocks fell for each that rose in benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.3 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Developers: Real-estate companies fell after a report showed private residential sales rose in November to the most in seven months, sending the total this year to a potential record and increasing risks the government will introduce additional measures to curb rising home prices.
“There is now an increased risk for more and stiffer demand-side cooling measures to be announced within the next two to three months,” said Tay Huey Ying, research director at Colliers International, a real-estate brokerage and consulting company.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, lost 0.8 percent to S$3.65. Keppel Land Ltd. (KPLD SP), the real-estate unit of Keppel Corp., dropped 1.7 percent to S$4.62. UOL Group Ltd. (UOL SP) declined 1.5 percent to S$4.61.
Ezra Holdings Ltd. (EZRA SP), a provider of logistics services to the oil and gas industry, increased 4.2 percent to S$1.74. DMG & Partners Securities Pte reiterated its “buy” rating on the stock, saying the two vessels the company is adding to its fleet next month will boost earnings.
Singapore Airlines Ltd. (SIA SP), the world’s second-biggest carrier by market value, slid 2 percent to S$15.46. Airlines globally may post a 40 percent decline in combined profits next year on slower economic growth, higher fuel costs and austerity measures in Europe that may dampen demand, the International Air Transport Association said.
STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, surged 7.8 percent to S$1.10, its highest close since it started trading on Nov. 12. Goldman Sachs Group Inc. initiated coverage of the stock with a “buy” rating and a share-price forecast of S$1.54.
Yanlord Land Group Ltd. (YLLG SP), a China-based developer, gained 1.2 percent to S$1.69. Samsung Securities Co. initiated coverage of the stock with a “buy” rating and a share-price forecast of S$1.95.