APAC REIT Daily: REITs close higher as business sentiment improves

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Monday, 11 May 2020.

Australia

A-REIT shares bounced back, with the S&P/ASX 200 A-REIT Index (XPJ) closing 2.73% higher.

Investors were buoyed by the further easing of COVID-19 restrictions throughout Australia, with the S&P/ASX 200 rising 1.3% to 5,461.22.

Investec Australia Property Fund (IAP) shares leaped 5.76% to A$1.10, while Dexus (DXS) rose 4.63% to $9.26.

Shopping centre owner Vicinity Centres (VCX) and Charter Hall Long WALE REIT (CLW) also finished more than 4% higher.

Japan

J-REITs also benefitted from rising hopes of a business recovery, with the TSE REIT index up 1.50%, and the Nikkei 225 1.05% higher at 20,390.66.

Hotel and hospitality REIT shares rebounded, with Japan Hotel REIT Investment Corp. (8985) and Mori Trust Hotel REIT Inc. (3478) both up by more than 9% to ¥41,900 and 9.41%, respectively.

Investors sold off residential REITs, with Advance Residence Investment Corp. (3269) stocks falling 4.29% to ¥324,000.

Comforia Residential REIT Inc. (3282) and Nippon Accommodations Fund Inc. (3226) stocks also closed lower, down 3.62% and 3.51%.

Hong Kong

In Hong Kong, the Hang Seng REIT Index was up 0.50%, led by Spring REIT (1426) shares, which rose 1.15% to HK$2.63.

Fortune REIT (778) stocks grew 0.96%, while Link REIT (823) edged 0.73% higher to HK$68.95.

Regal REIT (1881) stocks declined 1.01% to HK$1.38, followed by New Century REIT (1275), which was down 0.92%

The Hang Seng closed 1.53% higher at 24,602.06.

Singapore

EC World REIT (BWCU) stocks jumped 6.10% to $0.695, trailed by First REIT (AW9U) and Manulife US REIT (BTOU), which were both up by more than 3.50%.

Shares in Suntec REIT (T82U) were up 2.96%, and Ascendas REIT (A17U) traded 2.38% higher.

ARA US Hospitality Trust (XZL) stocks fell 2.47% to $0.395, while Mapletree North Asia Commercial Trust (RW0U) dipped 1.13%.

The FTSE ST Real Estate Investment Trusts Index rose 1.19%, while he FTSE Straits Times Index finished 0.75% higher at 2,611.31.

Malaysia

Malaysia’s stock exchange was closed for the Nuzul Al’Quran public holiday.

Thailand

Stock markets across Southeast Asia rose after China’s central bank signalled further policy measures to support the economy, with Thailand’s SET 50 Index jumping 2.24% to 867.30.

WHA Premium Growth Freehold & Leasehold REIT (WHART) stocks bounced 2.56% higher to ฿16.00, while CPN Retail Growth Leasehold REIT (CPNREIT) rose 1.73% to ฿29.25.

However, LH Shopping Centers Leasehold REIT (LHSC) stocks fell 3.13%, while IMPACT Growth REIT (IMPACT) declined 1.87%.

Other markets

In South Korea, Lotte REIT Co. Ltd. (330590) stocks rose 1.15% to ₩5,250, as K-TOP Reits Co., Ltd. (145270) edged 0.26% lower.

Shares in Taiwan’s Fubon No.1 REIT (01001T) fell 2.42% to NT$16.14, with Fubon No.2 REIT (01004T) also down 0.78%.

In New Zealand, Precinct Properties New Zealand Ltd. (PCT) stocks rose 1.66% to NZ$1.52, and in India, Embassy Office Parks REIT (EMBASSY) stocks closed 0.47% lower at ₹347.38.

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.
Avatar
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.