APAC REIT Daily: Ascott REIT to join global real estate index, as REIT shares gain

By Benn Dorrington

Here’s how listed real estate investment trusts (REITs) performed across Asia Pacific on Monday, 8 June 2020. 

Singapore REIT market

The FTSE ST Real Estate Investment Trusts Index jumped 1.61% to 867.54, in line with the Straits Times Index, which gained 1.65% to 2,796.97.

Ascott REIT (HMN) shares soared 6.67% to S$1.12 after announcing its upcoming inclusion into the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index) on June 22.

The move comes after Tokyo-listed Mitsubishi Estate Logistics REIT Investment Corp. (3481) announced on Friday that it would also be joining the FTSE EPRA/NAREIT Global Real Estate Index Series later this month. 

Investors favoured hospitality REITs today, with ARA US Hospitality Trust (XZL) shares rising 9.30% to S$0.47, and CDL Hospitality Trusts (J85) gaining 8.18% to S$1.19.

Mapletree Logistics Trust (M44U) was among a handful of S-REITs that finished lower, with its shares down 2.51% at $1.94.  

Hong Kong REIT market

Hong Kong stocks finished with minor gains, with the Hang Seng REIT Index up 0.47% to 5,752.30, and the Hang Seng Index finishing 0.03% higher at 24,776.77.

Moody’s Investors Service assigned a Baa1 rating to Champion REIT’s proposed USD senior unsecured notes due 2030, as part of its US$2bn medium-term note program, according to an announcement.

Champion REIT’s shares closed 2.31% higher at HK$3.98, the biggest gain of the day among Hong Kong REITs.

Prosperity REIT (808) stocks sank 1.70% to HK$2.31, while New Century REIT (1275) dipped 1% to HK$0.99. 

Japan REIT market

The Nikkei 225 Index jumped 1.37% to 23,178.10, and the Tokyo Stock Exchange REIT Index surged 1.97% to 1,753.41.

Japan Real Estate Investment Corp. (8952) announced new debt financing valued at JPY 11bn to refinance some long-term loans, according to an statement.

The company secured a JPY 7bn, five-year loan from Sumitomo Mitsui Trust Bank at a 0.2075% interest rate, as well as a JPY 4bn, 10-year loan from MUFG Bank at a 0.36125% interest rate. The company’s shares closed 2.95% higher at JPY 594,000.

Japan Retail Fund Investment Corp. (8953) stocks were among the biggest movers, up 7.50% to JPY 163,300, while SOSiLA Logistics REIT Inc. (2979) closed 2.88% lower at JPY 128,100.

Australia REIT market

The Australian stock market was closed for a public holiday.

Other APAC REIT markets 

In Malaysia, AmanahRaya REIT (5127) shares dived 3.57% to RM 0.68, while CapitaLand Malaysia Mall Trust (5180) stocks increased 2.44% to RM 0.84.

In New Zealand, Investore Property Ltd (IPL) stocks surged 5.11% to NZ$1.85, as Precinct Properties New Zealand Ltd. (PCT) shares finished trading 3.86% higher at NZ$1.75.

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.