Share prices after Latest Property Cooling Measures – update

More than two weeks had passed after the government announced the latest property cooling measures. In my earlier post (14 January), both property companies and three local banks saw their share prices declined on the first trading day after the announcement. Was this a knee-jerk reaction? What were their share prices today?

Value @ 11 Jan Value @ 29 Jan Change
Property:
City Dev

12.60

11.42

-9.37%

WingTai

2.02

1.895

-6.19%

Wheelock

2.00

1.955

-2.25%

Kep land

4.28

4.21

-1.64%

Ho Bee

1.97

1.95

-1.02%

SP Land

7.55

7.49

-0.79%

BukitSem

6.74

6.71

-0.45%

UOL

6.24

6.24

0.00%

United Eng

3.32

3.33

0.30%

Hotel Prop

3.17

3.21

1.26%

Sim Lian

0.80

0.815

2.52%

CapitaLand

3.89

3.99

2.57%

Bank:
UOB

19.22

18.72

-2.60%

DBS

14.70

14.77

0.48%

OCBC

9.75

9.79

0.41%

Indices:
FTSE ST Real Estate Index

809.30

812.47

0.39%

FTSE ST Financials Index

822.03

824.5

0.30%

STI

3216.50

3259.75

1.34%

 

FTSE ST Real Estate Index and FTSE ST Financials Index reversed earlier losses to rise 0.39% and 0.30% respectively. The Straits Times Index (STI) on the other hand increased 1.34% on an increased investor interest in Singapore equities.

More than half of property counters tracked were still below 11 January prices. City Development and Wingtai were poor performers, losing 9.37% and 6.19% respectively. Sim Lian and CapitaLand reversed course and rising about 2.5%.

As for three local banks, DBS and OCBC rose 0.48% and 0.41% respectively, whereas UOB lost 2.60%.

It appears that after two weeks, some form of new normal surfaced. Investors are looking at corporate earnings for current quarterly reporting season and deciding on share price of each property developer. The latest property cooling measures were already factored in current share prices. There was no more across-the-board fall in share prices of property counters. In fact, FTSE ST Real Estate Index actually rose during this period on the back of investor confidence in Singapore equities.

Copyright © 2013, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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2 Responses to Share prices after Latest Property Cooling Measures – update

  1. Pingback: Daily SG: 30 Jan 2013 | The Singapore Daily

  2. rogerpoh says:

    Very informative blog. Kudos to the blogger.

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