Daily Markets Briefing: STI down 0.06%

Find out who the biggest losers were.

According to KGI Fraser, yesterday, the STI ended the day relatively flat.

Global Logistic Properties (S$2.03; -2.9%) was the biggest loser, perhaps over concerns on weaker earnings growth and digestion of bad news from China, KGI Fraser said.

Here’s more from KGI Fraser:

Following URA reports of private home sales, which fell 0.5% QoQ, City Developments (S$7.49; -2.5%) also traded down.

On the other hand, it appears that investors are switching out from developers into REITs.

Most REITs were gainers, with CapitaLand Mall Trust (S$1.94; +1.6%) and CapitaLand Commercial Trust (S$1.365; +1.9%) leading the pack.

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