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CapitaLand Leads Property Stocks Lower on Housing Curbs

CapitaLand Ltd., Southeast Asia’s biggest developer, led declines in Singapore property stocks after the government rolled out more measures to curb speculation on residential and industrial properties.

CapitaLand dropped 4.1 percent to S$3.73 at the close of trading in Singapore. The stock had its biggest drop since May 7. City Developments Ltd., the country’s second-largest developer, sank 7.5 percent, while Wing Tai Holdings Ltd., the best performing property stock last year, slid 8.9 percent. The Straits Times Index’s property measure, which tracks 40 developers, lost 1.6 percent, its biggest slide since June 4.