APAC REIT Daily: Hong Kong REITs dive on Beijing’s proposed security laws

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Friday, 22 May 2020. 

Hong Kong 

Hong Kong REIT stocks plummeted in Friday trading on China’s plans to impose new national security laws on Hong Kong.

The Hang Seng REIT Index tanked 7.88% to 5,389.35, while the Hang Seng Index fell 5.56% to 22,930.14. 

Link REIT (823) shares plunged 10.17% to HK$60.95 in what was the market’s biggest casualty for the day. 

Spring REIT (1426) shareholders approved a buyback mandate for the trust at its AGM, according to a filing. The company’s shares closed 6.25% lower at HK$2.40.

New Century REIT (1275) shares bucked the trend, rising 1.05% to HK$0.96. The move followed the trust’s announcement that its manager would take half of its management fees in shares. 

Australia

The S&P/ASX 200 A-REIT Index declined 0.70% to 1,174.20, while the S&P/ASX 200 Index slid 0.96% to 5,497.

Cromwell Property Group (CMW) settled its sale of a half stake in a Sydney office complex to a BlackRock fund for A$120m, according to a statement. The trust’s shares were up 1.31% to A$0.78 at the end of trading.

Qualitas Real Estate Income Fund (QRI) announced its upcoming dividend was valued at $0.008152 per share, giving its shares a 1.12% boost to A$1.35. 

AIMS Property Securities Fund (APW) stocks jumped 7.14% to A$1.20, while Unibail-Rodamco-Westfield (URW) dived 6.93% to A$3.49.

Japan

The Tokyo Stock Exchange REIT Index edged 0.33% higher to 1,619.89, while the Nikkei 225 Index closed 0.80% lower at 20,388.16.

Invesco Office J-REIT Inc. (3298) said in a statement that it had arranged JPY 17.58bn in new loans to refinance existing debts that were due this month. The company’s share price closed unchanged at JPY 15,000.

Japan Prime Realty Investment Corp. (8955) renewed a JPY 12bn line of credit from a group of lenders, the company said. The trust’s share price also remained unchanged at the end of trading.

Shares in Industrial & Infrastructure Fund Investment Corp. (3249) recorded the highest swing, up 3.06% to JPY 174,900, while Nippon Prologis REIT Inc. (3283) fell 2.81% to JPY 311,500.

Singapore

The FTSE Straits Times Index fell 2.17% to 2,499.83, while the FTSE ST Real Estate Investment Trusts Index dipped 1.07% to 765.60. 

Mapletree North Asia Commercial Trust (RW0U) stocks fell 4.22% to S$0.80, trailed by OUE Commercial REIT (TS0U), which closed 4.00% lower at S$0.36. 

Mapletree Logistics Trust (M44U) shares were among the few to close higher, up 2.23% to S$1.83, followed by AIMS APAC REIT (O5RU), which rose 1.67% to S$1.22. 

Malaysia

Hektar REIT (5121) reported its first quarter earnings, with a quarterly profit of MYR 7.08m, down from MYR 8.91 in the same period last year. The trust’s share price closed 0.71% lower at MYR 0.70.

Al-Salam REIT (5269) shares jumped the highest, rising 7.14% to MYR 0.75, while Tower REIT (5111) dipped 3.31% to MYR 0.73.

The FTSE Bursa Malaysia KLCI Index finished 1.06% lower at 1,436.76.

Other markes

In Thailand, Trinity Freehold And Leasehold Property Fund (TNPF) shares sank 4.35% to THB 2.20, while Sub Sri Thai REIT (SSTRT) increased 2.78% to THB 5.55. 

In South Korea, shares in Shinhan Alpha REIT Co. Ltd. (293940) rose 3.12% to KWR 6,930.00, while E KOCREF CR REIT (088260) was up 1.83% to KRW 5,560.00.

Embassy Office Parks REIT (EMBASSY) shares also climbed 2.55% higher to INR 340.79.

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.