Bloomberg.com, 30 Sep 2008, Chen Shiyin and Andrea Tan
Sept. 30 (Bloomberg) -- CapitaLand Ltd., Southeast Asia's largest developer, posted its largest intraday loss in a decade in Singapore trading, leading the island's property companies lower on concern the credit crisis is hurting housing demand.
CapitaLand fell as much as 18 percent to S$2.66, the biggest one-day drop since Jan. 9, 1998, and was 9.5 percent lower at S$2.96 as of 10:55 a.m. local time. City Developments Ltd., the city's No. 2 developer, tumbled as much as 15 percent to S$7.33 and traded recently at $8.15. Citigroup Inc. cut its share-price estimate for CapitaLand by 20 percent and downgraded City Developments to ``hold'' from ``buy.''
Read More
