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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60600)	2/15/2002 6:12:22 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Singapore shares finish lower but property shines (Updates to close Friday February 15, 5:42 PM) sg.biz.yahoo.com By Mantik Kusjanto SINGAPORE, Feb 15 (Reuters) - Singapore shares finished lower on Friday but property stocks held up well on hopes a recovery in the recession-hit economy could boost home sales. The Straits Times Index <.STI> closed 0.36 percent or 6.36 points lower at 1,768.27. The small dip followed 3.3 percent gains over the past three sessions. Since the start of the year, the STI has risen about nine percent. In the broader market, losers beat gainers 158 to 108, with 133 issues unchanged. Volume fell to 405 million shares from 465 million on Thursday. Property stocks rose broadly, led by City Developments (Singapore: CTDM.SI - news) and CapitaLand (Singapore: CATL_p.SI - news) as investors bet they would report better results this year as the economy recovered. CityDev gained 3.82 percent to S$6.80 and CapitaLand added 1.52 percent to S$2.00 in active volumes. Analysts said investors had largely discounted a bad 2001 for property firms hit by heavy provisions as asset values fell. But others felt the rise could be due to a catch-up game.