It looks like the STI has found some measure of support for now. I attach two daily charts of 2 large property developers listed in Singapore; Keppel Land and Capitaland for you to have a feel of their share performance.
Capitaland: Involved in real estate, hospitality and real estate financial services which focuses in growth cities in Asia Pacific and Europe. NAV: $3.17, PE: 15.0, PB 1.2, Yield 1.5%. Market Cap: $15,760M.
Since making a high of about $7.00 in 2007 and a low of about $1.80 in 2009, it has been going sideways, range bound from $4.43 to $3.27, for almost 2 years. Very unexciting.
Keppel Land: Involved in property trading, property investment, fund management, hotel and resort and property services. NAV $2.42, PE 24.5, PB: 2.0, Yield 1.7%, market cap $6,856M.
On the contrary, Keppel Land made a high of $6.80 in 2007, a low of about $0.71 in 2009 and has been climbing quite steadily since then.
The price has retraced to the 200-day Moving Average line and has also bounced off the 78.6% fibonacci retracement of $4.18. From a chartist's perspective, it looks like good entry point.
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