Shares of property companies in Singapore with exposure to China’s real estate market declined yesterday, following the introduction of new measures aimed at cooling the market, according to traders.
Shares of CapitaLand dropped as much as 1.2 percent to $4.06, with almost nine million shares sold.
Chinese officials had earlier told banks to demand at least 30 percent down payment from all mortgage applicants, as well as to stop offering loans for third home purchases.
Hongkong Land retreated 1.6 percent to $6.03, while Keppel Land declined as much as 1 percent to $4.01, with more than 2.2 million shares sold.
“This news will definitely have a negative impact for those property developers with higher exposure to China, like Keppel Land and CapitaLand,” said a local trader.