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.
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.
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.