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Following on from my message of this mid afternoon, below..........
1. Ying Li's share price finished the day at S$ 0.46, down 8.9% from its previous close - it had been down as much as 11.9% at one stage during the afternoon. Volume was a heavy 22.5 Million shares. Not a good day for those vested in Ying Li!
2. I'm still puzzled why Ying Li's share price should be so hard hit, i.e. hit as hard as residential PRC property developers. While it very much looks like Chongqing is one of the cities subject to the (apparently) very tough measures announced by the PRC Government last Friday, it is unclear (to me at least) why a primarily commercial real estate developer such as Ying Li is hit so hard by measures which are focused on the residential property market. May be it is the tax-on-capital-gains measure which has spooked investors? I'm still digging.
3. As a direct result of the measures announced last Friday, Chinese "Property Experts" are predicted a 5%-10% fall in residential property prices in the targeted PRC cities within the coming 3-6 months. IF this prediction turns out to be correct, me wonders if the Singapore Government might want a close look at what their PRC counterparts are implementing!
Vested
1. Ying Li's share price finished the day at S$ 0.46, down 8.9% from its previous close - it had been down as much as 11.9% at one stage during the afternoon. Volume was a heavy 22.5 Million shares. Not a good day for those vested in Ying Li!
2. I'm still puzzled why Ying Li's share price should be so hard hit, i.e. hit as hard as residential PRC property developers. While it very much looks like Chongqing is one of the cities subject to the (apparently) very tough measures announced by the PRC Government last Friday, it is unclear (to me at least) why a primarily commercial real estate developer such as Ying Li is hit so hard by measures which are focused on the residential property market. May be it is the tax-on-capital-gains measure which has spooked investors? I'm still digging.
3. As a direct result of the measures announced last Friday, Chinese "Property Experts" are predicted a 5%-10% fall in residential property prices in the targeted PRC cities within the coming 3-6 months. IF this prediction turns out to be correct, me wonders if the Singapore Government might want a close look at what their PRC counterparts are implementing!
Vested
(04-03-2013, 03:17 PM)RBM Wrote: In common with other PRC focused Property Developers, Ying Li's share price has been hit hard during today's trading on the SGX, i.e. down ~ 9% in volume not far shy of 14 Million shares, at the time of writing (3.15 pm Singapore time). It seems that Ying Li's focus on commercial real estate has not given it any immunity from the tougher-than-expected Property Price Curb measures announced by the PRC Government last Friday.
China's two largest developers by sales, Shenzhen-listed China Vanke and Shanghai-listed Poly Real Estate have each seen share price drops of the maximum permitted 10%. At 3.15 p.m. the Shanghai property sub-index was down > 9 %, looking set or its worst daily loss in over 4.1/2 years.
Vested in Ying Li (not in China Vanke & Poly RE)
RBM, Retired Botanic MatSalleh