APAC REIT Daily: REIT shares jump on economic recovery hopes

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Monday, 19 May 2020.

Australia

A-REIT shares rallied along with other Aussie stocks, with the S&P/ASX 200 A-REIT Index leaping 3.69% to 1,179.40. 

Stocks in Australia and other markets jumped on easing restrictions and early COVID-19 vaccine trial results released in the US overnight, with the S&P/ASX 200 Index up 1.81% to 5,559.50.

Shopping centre trusts led the way, with Unibail-Rodamco-Westfield (URW) shares soaring 11.44% to A$4.09, and Scentre Group (SCG) and Vicinity Centres (VCX) up 7.69% and 6.92%, respectively.

AIMS Property Securities Fund (APW) stocks fell 4.27% to A$1.12 on no news. 

Japan

The Tokyo Stock Exchange REIT Index climbed 1.72% higher to 1,593.35, while the Nikkei 225 Index rose 1.49% to 20,433.45.

Invincible Investment Corp. (8963) shares jumped 7.81% to JPY 24,270, while Japan Hotel REIT Investment Corp. (8985) extended its gains, up 5.82% to JPY 40,000.

Global One Real Estate Investment Corp. (8958) shares rose 2.58% to JPY 91,300 after reporting its half-yearly earnings to March 2020. In its earnings, the company said net income was down 13% to JPY 2.27bn and dividends per unit would equal JPY 2,359. 

Mitsubishi Estate Logistics REIT Investment Corp. (3481) stocks dipped 2.55% to JPY 364,000, while SOSiLA Logistics REIT Inc. (2979) closed 1.35% lower. 

Singapore

S-REITs extended their gains, with the FTSE ST Real Estate Investment Trusts Index up 2.32% to 774.55.

Frasers Centrepoint Trust (J69U) shares recorded the strongest gains, rising 4.76% to S$2.20, followed by ESR-REIT (J91U), which gained 4.22% to S$0.37. 

Shares in AIMS APAC REIT (O5RU) closed 1.66% lower at S$1.19 despite announcing its upcoming inclusion into the MSCI Singapore Small Cap Index. United Hampshire US REIT (ODBU) stocks fell 2.48% to $0.59. 

The FTSE Straits Times Index also rose 1.66% to 2,581.33 .

Hong Kong 

The Hang Seng Index climbed 1.90% to 24,388.90, while the Hang Seng REIT Index finished trading 1.26% higher at 5,918.46. 

Link REIT (823) shares jumped 3.67% higher to HK$69.10, while CMC REIT (1503) closed 2.23% higher. 

Champion REIT (2778) stocks were down 2.09% at HK$4.23, and Spring REIT (1426) slipped 1.57%.

Malaysia 

Pavilion REIT (5212) shares rose 3.16% to RM1.63, while YTL Hospitality REIT (5109) was up 1.57%.

MRCB Quill REIT (5123) stocks finished trading 1.99% lower at RM0.74, followed by Atrium REIT (5130), which declined 1.0%. 

The FTSE Bursa Malaysia KLCI Index finished trading 0.98% higher at 1,423.97. 

Thailand

Stocks in Thailand rallied as well, with the SET Index rising 1.82% to 1,309.95.

MFC-Nichada Thani Property Fund (MNIT) shares soared 12.61% to THB 1.25 on no news, while Dusit Thani Freehold & Leasehold REIT (DREIT) rose 4.95% to THB 3.82.

MFC Industrial Investment Property And Leasehold Fund (M-II) stocks fell 4.11% to THB 7.00, and Luxury Real Estate Investment Fund (LUXF) were down 3.79% at the end of trading.

Other markets 

In New Zealand, shares in Argosy Property Ltd (ARG) and Kiwi Property Group Ltd. (KPG) were up 3.86% and 2.85%, respectively.

In South Korea, Shinhan Alpha REIT Co. Ltd. (293940) shares jumped 3.33%, while Lotte REIT Co. Ltd. (330590) rose 2.85%.

In India, Embassy Office Parks REIT (EMBASSY) stocks edged 0.71% higher to ₹342.98 after reporting its earnings from its first full year since listing on India’s stock exchange. Net operating income rose 15% to ₹18,170 in the 2019-20 financial year, and the company recorded a cumulative distribution of ₹24.39 per unit for FY2020.

Learn more about Asia Pacific REITs:

REITS in AustraliaREITs in Thailand
REITs in JapanREITs in Taiwan
REITs in SingaporeREITs in Korea
REITs in Hong KongREITs in New Zealand
REITs in MalaysiaREITs in India
Disclaimer: APAC Real Estate accepts no responsibility for any claim, loss or damage as a result of information provided or its accuracy. Your personal objectives, financial situation or needs have not been taken into consideration. The information provided on this site is general in nature, not financial product advice, so you should see a financial expert before making any investment decision. Conflicts of interest may be present within commercial arrangements with companies and/or stock held.
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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.