APAC REIT Daily: REITs trade lower over fears of further COVID-19 waves

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Wednesday, 13 May 2020.


J-REIT stocks extended their losses, as the TSE REIT index fell a further 2.39% to 1,604.78.

Fears of a second wave of COVID-19 in the US sent shares tumbling throughout financial markets.

Japan Prime Realty Investment Corp. (8955) stocks sank 6.05% to ¥303,000, while Nippon Building Fund Inc. (8951) and Japan Real Estate Investment Corp. (8952) descended 5.64% and 5.05%, respectively.

GLP J-REIT (3281) shares rose 1.67%. Invincible Investment Corp. (8963) clawed back a little ground, up 0.33% to ¥23,980, after its shares plummeted almost 23% yesterday.

The wider market stemmed its losses, with the Nikkei 225 down 0.49% to 20,267.05.


A-REIT shares dived today, with the S&P/ASX 200 A-REIT Index (XPJ) down 2.15% to 1,131.90.

APN Convenience Retail REIT (AQR) stocks fell 5.61% to $3.20, while shares in Arena REIT (ARF), Carindale Property Trust (CDP) and Charter Hall Long WALE REIT (CLW) all fell by more than 4%.

A handful of REITs finished the day higher, with Blackwall Property Trust (BWR) up 1.98% at $1.285.

Australian shares fell at the open after an overnight sell-off on Wall Street, however the market reversed the decline, with the S&P/ASX 200 closing 0.35% higher at 5,421.85.


The FTSE ST REITs Index closed 0.71% lower, in line with the FTSE Straits Times Index, which declined 0.61% to 2,572.01.

Keppel REIT (K71U) shares fell 3.78% to $1.02, while Mapletree North Asia Commercial Trust (RW0U) declined a further 3.53% to $0.82.

Ascendas India Trust (CY6U) shares jumped 4.80% to $1.31 after its manager announced that it would acquire additional shares in the trust.

Hong Kong

New Century REIT (1275) stocks bounced back over the HK$1 mark, rising 3.03% to HK$1.02.

Shares in Regal REIT (1881), which owns the Regal Airport hotel and other Hong Kong hotels, fell 4.35% to HK$1.32.

The Hang Seng REIT Index closed 0.33% lower, as the Hang Seng dipped 0.27% to 24,180.30.


The Bursa Malaysia REIT Index traded sideways, edging 0.05% lower to 872.63.

Tower REIT (5111) stocks soared 4.16% to RM0.75, as Al-Aqar Healthcare REIT (5116) jumped 2.17% to RM1.41.

Al-Salam REIT (5269) shares dropped 2.70%, as IGB REIT (5227) fell 2.32% to RM1.69.

The FTSE Bursa Malaysia KLCI Index was up 1.24% to 1,397.13.


Thai stocks finished trading lower, with the SET 50 Index down 0.60% to 867.36.

IMPACT Growth REIT (IMPACT) shares were down 3.13% to ฿15.50, while LH Hotel Leasehold REIT (LHHOTEL) declined 2.34% to ฿12.50.

However, T.U. Dome Residential Complex Leasehold Property Fund (TU-PF) stocks soared 7.14% to ฿1.05, followed by Luxury REIT (LUXF), which jumped 6.87% to ฿7.00.

Other markets

In New Zealand, shares in Kiwi Property Group Ltd. (KPG) and Goodman Property Trust (GMT) declined by almost 2.20%.

However, Augusta Capital (AUG) and Property for Industry Ltd (PFI) stocks rose 1.51% and 1.31%, respectively.

Taiwan REIT shares remained mostly flat except for Shin Kong No.1 REIT (01003T), which rose 1.50% to NT$18.88.

In South Korea, Lotte REIT Co. Ltd. (330590) shares posted the greatest shift, up 1.54% to ₩5,260.

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.