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Wild price swings plague SGX's ten largest property stocks

The 10 largest counters declined 6.5% YTD.

Singapore's largest property players were hard-hit by the recent price bloodbath that had engulfed global markets.

A report released by the Singapore Exchange yesterday showed that the bourse's ten largest real estate stocks have declined by 6.5% in the year-to-date, with most losses sustained in the first eight weeks of the second half.

For instance, the four real estate stocks of the Straits Times Index (STI) – Hongkong Land Holdings, Global Logistic Properties, CapitaLand and City Developments – have averaged a 15.9% decline. in just the first 8 weeks of 2H15.

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This compares with an average total return of 8.1% booked in the first half of the year.

Including these four STI stocks, the 10 largest real estate development stocks averaged a -6.5% YTD total return.

Seven of the 10 stocks formed 12 month lows within the past five sessions from August 26.

The five best performers in the year-to-date were GuocoLand, Hongkong Land Holdings, Yanlord Land Group Limited, Frasers Centrepoint and United Industrial Corporation.



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