Property stocks lead losses since Fed 'taper' talk

[SINGAPORE] Property stocks, the Jardine group and two Thailand stocks are among the top 50 companies by market capitalisation here which have performed the worst since quantitative easing (QE) "taper" talk by the US Federal Reserve began last May, figures compiled for BT by the Singapore Exchange (SGX) show.

The table alongside shows the price and total performance of stocks from May 22, 2013 - the last market peak when the benchmark Straits Times Index (STI) closed at 3,454 points - and Feb 3, 2014, when the STI sank below the key psychological support of 3,000, marking a more than 13 per cent decline from its peak.

On May 22 last year, markets were spooked when former chairman Ben Bernanke said the Fed could begin to slow down, or taper, its massive bond- buying stimulus programme. Fears of rising interest rates caused outflows from emerging markets, a theme that is persisting with the Fed continuing to taper its bond purchases.