Singapore share prices closed 0.63 percent lower on Tuesday on profit-taking in property stocks after recent gains, dealers said. The Straits Times Index fell 14.76 points to 2,310.35. Volume was 780 million shares worth 771 million Singapore dollars (462 million US), down from 974 million shares worth 785 million dollars on Monday.
Declines led gains 291 to 186, with 594 stocks unchanged. Property stocks were the major losers as investors took profits after a small rally on hopes of improved sales in the coming months, dealers said.
"We believe prices of high-end residential projects are set to rise and this will help boost mass residential prices," said Citigroup Smith Barney research head Lim Jit Soon.
Southeast Asia's biggest developer CapitaLand lost two cents to 3.00 dollars, City Developments fell 10 cents to 9.00 and Wing Tai dropped one cent to 1.30.
Among blue chips, Singapore Telecommunications lost one cent to 2.60 dollars, ST Engineering eased one cent to 2.56 and Singapore Airlines was flat at 11.90.
In the banking sector, DBS eased 10 cents to 16.00 dollars, United Overseas Bank declined 30 cents to 14.30 and Oversea-Chinese Banking Corp slipped 10 cents to 6.20.
For the technology sector, contract chip maker Chartered Semiconductor was five cents down at 1.15 dollars, electronics contract firm Venture fell 20 cents to 15 dollars, STATS ChipPac declined two cents to 1.12 and Creative was flat at 13.70.
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