Investors sell off property stocks amidst uncertainty

This drove Singapore shares to a two-year low as property companies lost in Tuesday’s trading.

A Reuters report said, “Property companies such as Global Logistic Properties and Hongkong Land were amongst the biggest losers on the benchmark Straits Times Index (STI), hurt by concerns slowing economic growth would dampen demand and rents.”

The STI was down 1.83 percent, or 48.09 points, at 2,573.31 at 0500 GMT. “Around 782.9 million shares worth S$738.9 million were traded, compared with 784.5 million shares worth S$735.9 million by the same time on Monday,” added the report.

View the report here.

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