Global Logistic Properties Falls as Traders Take Some Profit — Market Talk

0148 GMT [Dow Jones] Global Logistic Properties (MC0.SG) falls 0.5% to S$1.82, likely as some investors are seeking to lock in part of their recent gains. Global Logistic shares have gained 4% since June 27. The Singapore-listed company reported after markets closed on Thursday that a fund controlled by Blackrock has raised its stake in the warehouses firm to 6.07% from 5.92% earlier this week. The company also reported that it will start the development of a new property in Japan at an investment of about US$100 million. By comparison, the local benchmark FTSE Straits Times Index is down 0.3%. (gaurav.raghuvanshi[a]

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