STOCKS NEWS SINGAPORE-Index falls, CapitaMalls Asia drags

Last Updated: Thu, Feb 07, 2013 06:00 hrs

Singapore shares slipped to their lowest in nearly two weeks, weighed by a fall in CapitaMalls Asia Ltd shares following weak quarterly earnings.

The Straits Times Index dipped 0.55 percent to 3258.66, while the MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15 percent.

CapitaMalls Asia shares fell as much as 4.2 percent to S$2.08 after the company reported a 10 percent drop in fourth-quarter net profit compared to a year earlier.

The shopping malls owner and developer cited a decline in operating income due to higher fair value losses and impairment losses suffered in India on its investments and properties. Around 9.7 million shares changed hands, 1.3 times the average full-day volume over the past 30 days.

1320 (0520)

Reporting by Teo Jion Chun; Editing by Jijo Jacob

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