Singapore’s Straits Times Index slipped 1.2 percent to 2,694.60 at the close. All but four stocks fell in the benchmark gauge of 30 companies. The measure fell 2.8 percent for the week, the fifth decline in six weeks.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.
China developers: China should maintain property curbs because housing prices in some Chinese cities are still relatively high, Ren Xingzhou, a director at the market economy research department of the State Council’s Development Research Center, wrote in a People’s Daily article.
CapitaLand Ltd. (CAPL SP), which counts both China and Singapore as its biggest markets by assets, dropped 2.9 percent to S$2.35. Guocoland Ltd. (GUOL SP) sank 0.6 percent to S$1.72, while Yanlord Land Group Ltd. (YLLG SP), a China-based homebuilder, slid 1.9 percent to S$1.025.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, dropped 0.9 percent to S$1.125. UOB-Kay Hian Holdings Ltd. maintained its “sell” rating on the stock, saying freight rates will continue to decline next year, while fuel costs will remain high.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodity supplier, slipped 2.1 percent to S$1.18. The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities ranging from copper to corn, decreased 0.7 percent in New York yesterday, extending its decline for a second day.