In Tokyo, Activia Properties Inc. (3279) reported a 6.2% fall in ordinary profit to JPY 7.3bn for the six months to end-May 2020, according to its latest earnings. 

The REIT, which owns commercial and office properties in urban areas, said cash distributions were set at JPY 8,206 per unit for the period, down from JPY 10,137 in the preceding period. 

Activia forecasts a 4.9% decline in ordinary profit to JPY 6,973 for the upcoming six-month period ending November 2020. Shares in Activia Properties closed 1.02% higher to JPY 346,000. 

The Tokyo Stock Exchange REIT index gained 0.43% to 1,674.65, while the Nikkei 225 index jumped 1.59% to 22,945.50. 

The biggest J-REIT swings were Industrial & Infrastructure Fund Investment Corp. (3249) shares, which slipped 2.53% to JPY 185,000, and Invincible Investment Corp. (8963), which soared 6.38% to JPY 28,160.

Shares in Invincible, which owns hotels and residential properties, have been hit hard by the COVID-19 pandemic, still down 54.51% for the year to date. 

Singapore

Ascott REIT (HMN) completed the sale of its interest in a land lot in Singapore for S$163.3m and entered into a joint development agreement with the buyer, according to an announcement. 

The sale is part of the redevelopment plans of the Liang Court site in Clarke Quay that were first announced in November last year. 

The FTSE ST Real Estate Investment Trusts index moved 0.50% higher to 835.48, and the Straits Times Index jumped 1.10% to 2,648.90.

Frasers Logistics & Commercial Trust (BUOU) shares led the losses today, down 3.28% to S$1.18, while ARA US Hospitality Trust (XZL) rose 3.90% to S$0.40. 

Australia

The S&P/ASX 200 A-REIT index increased 1.56% to 1,234.30, in line with the S&P/ASX 200 index, which rose 1.88% to 6,052.90.

The biggest A-REIT moves were Arena REIT (ARF) stocks, which 5.21% to A$2.22, and Garda Property Group (GDF) dipped 2% to A$0.98.

Hong Kong 

The Hang Seng REIT index edged 0.35% higher to 5,587.25, and the Hang Seng index closed flat, up 0.01% to 25,481.58. 

In Hong Kong, Link REIT (823) shares closed 0.96% lower at HK$62.15, while Spring REIT (1426) stocks bounced 1.21% higher to HK$2.50.

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Benn is a freelance journalist and the publisher of APAC Real Estate. He has reported for the Herald Sun, REFI Europe, S&P Global Market Intelligence, Leader Newspapers, and more.