Unit Price Performance
In 2010, concerns over a possible double-dip global recession and a spiralling debt crisis in Greece spooked stock markets in Asia, as the year began. Market players were also worried that government stimulus packages would be withdrawn. However, as concerns subsided and economic indicators hinted at potential upside for Asia's economic recovery, stock markets in the region rebounded in late February and March to the levels seen at the beginning of the year.
From an intra-year low of S$1.67 in late January 2010, CMT's unit price has strengthened to close at S$1.95 on 31 December 2010, on the back of continued confidence in the strength of Singapore's economic recovery and an upbeat domestic retail outlook. This was 8.3% higher than the closing unit price of S$1.80 on 31 December 2009. The Straits Times Index ended the year 10.1% higher while the FTSE ST Real Estate Investment Trust Index rose by 10.6% year-on-year.
As at 31 December 2010, CMT's market capitalisation registered S$6.2 billion - the highest among real estate investment trusts in Singapore - from S$5.7 billion as at 31 December 2009. The stock's trading volume in 2010 reached 1.4 billion units, translating to an average daily trading volume of approximately 5.7 million units.
