Primary tabs

Property counters make gains; SGX and CNMC Goldmine see activity

Jeffrey Tan Published on Fri, Apr 07, 2017 / 9:53 AM GMT+8

A-

A+

SINGAPORE (April 7): The property stocks in The Edge Singapore’s Singapore Market Portfolio recorded gains in the past week as investors continued to respond positively to a relaxation of lending rules and a lowering of property sales fees. Between March 28 and April 4, the FTSE ST Real Estate Index climbed 1.4% to 792.25 points — its highest close in 52 weeks. The Straits Times Index, by comparison, gained just 0.7%.

Last month, the government announced changes to the seller’s stamp duty and total debt servicing ratio. Both changes are expected to make it easier for households to buy and sell properties.

Shares of UOL Group, which we added last week, are up 0.6% since, closing at $7.02. CapitaLand is up 0.3%, closing at $3.67 on April 4. The latter, one of the stocks we started the portfolio with on Jan 4, has now returned 19.9% in total. That makes it the second-best performer in our portfolio, after egg producer Chew’s Group.