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.

Singapore

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.

Japan

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. 

Australia 

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
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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.