30 May '11, 5am

Potential Policy Headwinds Push CapitaLand Lower, But Long Term Prospect Remains Strong: CapitaLand's share pric...

Potential Policy Headwinds Push CapitaLand Lower, But Long Term Prospect Remains Strong: CapitaLand's share pric...

CapitaLand’s share price has plunged roughly seven weeks in a row and has fallen by around 26% since it peaked at $4.23 on 07 Oct-10, based on 27 May-11 closing price of $3.11. The share has underperformed the Straits Times Index’s (STI) 5.4 percent loss since the STI’s 09 Nov-10 peak. The significant decline in the share price of CapitaLand was in line with worries about further cooling measures in both Singapore and China. To weigh in further on CapitaLand’s share price, sales of new private homes (excluding executive condos) rose 29 percent in April to a 5-month high as property developers pushed out more projects to ride on the buying momentum. This triggers fears of more aggressive monetary tightening measures from the government. According to Urban Redevelopment Authority’s data, developers sold 1,788 homes in April as compared to 1,386 in March, the highest since 1,...

Full article: http://www.sharesinv.com/articles/2011/05/30/potential-po...

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