Singapore property stocks drop on back of latest housing curbs

Stocks hit a one-year low.

According to Bloomberg, Singapore’s property stocks fell, driving an index tracking developers to a one-year low, after the government tightened its public housing policy by reducing tenures for new loans and restricting purchases by foreigners.

"The Singapore property index tracking 43 stocks fell 1.2 percent to 694.15 as of 9:13 a.m. local time, set for the lowest since Sept. 11," Bloomberg reported.

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