APAC REIT Daily: A-REITs jump 4.5% on economic recovery hopes

By Benn Dorrington

Here’s how the real estate investment trust (REIT) markets performed across Asia Pacific on Tuesday, 26 May 2020.


A-REITs bounced back on growing hopes of an economic recovery, with the S&P/ASX 200 A-REIT Index soaring 4.55% to 1,260.70.

Shares in retail trust Unibail-Rodamco-Westfield (URW) soared 12.71% to A$3.99, while Centuria Office REIT (COF) and Stockland (SGP) both closed more than 7% higher. 

APN Convenience Retail REIT (AQR) stocks jumped 5.76% to A$3.49 after announcing the acquisition of two convenience stores in Inverell, NSW and Gatton, Queensland. The trust bought the two Coles Express stores for A$10.2m, representing a cap rate of 6.5%.

AIMS Property Securities Fund (APW), which is also listed on the Singapore stock exchange, halted its distributions from the June quarter onwards due to market volatility, according to a statement. The company’s shares fell 4.17% to A$1.15.

The S&P/ASX 200 Index also finished trading higher, up 2.93% to 5,780. 


Hotel REITs soared in Tuesday trading following Prime Minister Shinzo Abe’s decision to lift the state of emergency in Japan. 

Invincible Investment Corp. (8963) stocks shot up 10.52% to JPY 27,000, Mori Trust Hotel REIT Inc. (3478) jumped 4.69% to JPY 100,400, and Hoshino Resorts REIT Inc. (3287) closed 3.92% higher at JPY 450,500.

Shares in Sekisui House REIT Inc. (3309) closed 1.54% higher at JPY 66,000 after the company announced it had arranged JPY 8bn in new loans to refinance its existing borrowings. 

One REIT Inc. (3290) said net income grew 11.5% to JPY 1.89bn during the six months to end-February 2020, according to its latest earnings. The trust predicts net income will decline 1.7% to JPY 1.86bn in the six months to August 2020, but it still expects to provide a distribution of JPY 7,750 per unit. 

One REIT shares edged 0.80% higher to JPY 252,000.

The Tokyo Stock Exchange REIT Index increased 1.20% to 1,664.77, while the Nikkei 225 Index jumped 2.55% to 21,271.17. 


Suntec REIT (T82U) shares leaped 4.38% to S$1.43, as Keppel DC REIT (AJBU) climbed 3.81% to S$2.45. 

Ascendas REIT (A17U) stocks closed 3.39% higher at S$3.05, as Mapletree Logistics Trust (M44U) finished trading up 3.28% at S$1.89.

Overall, S-REITs finished trading higher, with the FTSE ST Real Estate Investment Trusts Index up 1.00% to 781.62. The FTSE Straits Times Index closed 0.98% lower at 2,530.30.

Hong Kong 

The Hang Seng REIT Index jumped 2.34% to 5,380.79, as the Hang Seng Index recovered 1.88% to 23,384.66. 

Shares in New Century REIT (1275) jumped 4.17% to HK$1.00 after the Securities and Futures Commission approved deputy chief operating officer Wong Ka Bong’s application to become a responsible officer of the REIT Manager, according to a filing.

Yuexiu REIT (405) stocks rose 3.48% to HK$3.57, while Link REIT (823) increased 2.11% to HK$60.45.

Other markets 

In Malaysia, Al-Salam REIT (5269) stocks jumped 7.14% to MYR 0.75, while Axis REIT (5106) rose 0.51% to MYR 1.99.

Tower REIT (5111) shares declined 3.31% to MYR 0.73 in what was the biggest dip of the day. The FTSE Bursa Malaysia KLCI Index fell 1.06% to 1,436.76. 

In New Zealand, Stride Property Group (SPG) stocks jumped 5.26% to NZ$1.60.

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.