APAC REIT Daily: Link REIT shares jump, as Hong Kong REITs recover

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Tuesday, 2 June 2020.

Hong Kong 

Hong Kong REITs continued their recovery, with the Hang Seng REIT Index jumping 3.25% to 5,594.83.

Link REIT (823) shares extended yesterday’s strong gains on the back of its latest earnings, with its shares rising 6.44% to HK$65.25. 

Most REITs in Hong Kong closed higher except for Regal REIT (1881) and Spring REIT (1426), which finished flat. The Hang Seng Index increased 1.11% to 23,995.94.


The FTSE ST Real Estate Investment Trusts Index rose 1.78% to 844.96, while the FTSE Straits Times Index jumped 2.38% to 2,611.63.

Starhill Global REIT (P40U) priced S$100m of 3.15% notes due 2025, as part of its S$2bn multicurrency debt issuance programme, according to an announcement. Starhill shares soared 8.08% to S$0.54. 

Shares in United Hampshire US REIT (ODBU) fell 1.63% to S$0.61 after announcing that it had achieved approximately 82% and 77% of retail tenant base rent collection for the months of April and May 2020, respectively.

In the biggest changes of the day, Keppel DC REIT (AJBU) stocks dipped 3.53% to S$2.46, while Sabana Shariah Compliant Industrial REIT (M1GU) jumped 11.94% to S$0.38.


The Tokyo Stock Exchange REIT Index jumped 1.79% to 1,701.81, while the Nikkei 225 Index increased 1.19% to 22,325.61.

Hotel REITs led the gains, with Japan Hotel REIT Investment Corp. (8985) shares rising 8.29% to JPY 47,050, and Invincible Investment Corp. (8963) up 8.08% to 28,370.

Office REITs also posted strong gains, with Kenedix Office Investment Corp. (8972) stocks jumping 5.15% to JPY 612,000, and Invesco Office J-REIT Inc. (3298) increasing 5.61% to JPY 16,200.

A handful of J-REIT shares closed lower, with Nippon Building Fund Inc. (8951) sliding 2.09% to JPY 657,000, and Japan Real Estate Investment Corp. (8952) edging 1.36% lower to JPY 580,000. 


A-REITs finished trading flat, with the S&P/ASX 200 A-REIT Index closing 0.01% higher at 1,237.40.

Shares in Unibail-Rodamco-Westfield (URW) soared 8.29% to A$4.44 after telling the market in a statement that 65 of its 90 shopping centres had reopened. 

Arena REIT (ARF) announced plans to raise A$50m through a fully underwritten institutional placement at an issue price of A$2.28 per new security, according to a regulatory filing

Vicinity Centres (VCX) completed its A$1.2bn fully underwritten institutional placement, according to an announcement. Vicinity stocks fell 0.93% to A$1.60. 

The stocks with the greatest swings were URW and US Masters Residential Property Fund (URF), which  sank 4.17% to A$0.35.

The S&P/ASX 200 Index edged 0.27% higher to 5,835.10. 

Other markets 

In Malaysia, YTL Hospitality REIT (5109) shares jumped 4.57% to RM 1.03, while Tower REIT (5111) stocks  closed 2.08% lower at RM 0.70. 

In New Zealand, Vital Healthcare Property Trust (VHP) stocks jumped 1.83% to NZ$2.50, while Stride Property Group (SPG) closed 1.25% lower at NZ$1.58. 

In South Korea, E KOCREF CR REIT (088260) edged 1.52% higher to ₩6,000, and K-TOP Reits Co., Ltd. (145270) climbed 1.15% to ₩794.

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.
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.