APAC REIT Daily: REIT stocks extend losses over downturn worries

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Thursday, 14 May 2020.


Stocks in Singapore and other Asia Pacific markets dropped after the US Federal Reserve chairman warned of a long-term economic downturn resulting from the COVID-19 pandemic.

The FTSE Straits Times Index fell 1.94% to 2,522.31, while the FTSE ST REITs Index dropped 2.16% to 739.98.

Prime US REIT (OXMU) stocks dived 5.48% to S$0.69, Keppel Pacific Oak US REIT (CMOU) was down 4.10%, and ARA US Hospitality Trust (XZL) declined 3.95%.


Investors grew increasingly nervous over the economic fallout of COVID-19, as the S&P/ASX 200 Index fell 1.72% to 5,328.72.

A-REITs followed suit, with S&P/ASX 200 A-REIT Index (XPJ) dropping another 1.05% to 1,120.00.

Shares in shopping centre landlord Unibail-Rodamco-Westfield (URW) dived 7.83% to A$3.65, while Home Consortium (HWC) and Hotel Property Investments (HPI) were both down by more than 5%.

Charter Hall Group (CHC) stocks rose 4.24% to $7.61 after the group reaffirmed its earnings and distribution guidance for FY20, and announced it had A$5bn ready to invest in office, industrial and logistics assets.

National Storage REIT (NSR) shares also closed 4.04% higher at $1.67.


J-REIT shares finished lower with the TSE REIT index down 1.10% to 1,587.16, led by MCUBS MidCity Investment Corp. (3227), which dropped 6.51% to ¥76,200.

Orix JREIT Inc. (8954) shares extended their losses, falling 6.04% to ¥130,700, just days after announcing new debt financing.

Logistics REITs posted daily gains, led by Nippon Prologis REIT Inc. (3283) shares, which rose 2.55% to ¥305,500.

The Nikkei 225 Index dropped 1.74% to 19,914.78.

Hong Kong

Hong Kong REITs finished lower after the Hang Seng REIT Index dropped 1.87%, and the Hang Seng slid 1.45% to 23,829.74.

Champion REIT (2778) stocks fell 3.82% to HK$4.29, followed by a 2.28% decline in Regal REIT (1881).

Only Hui Xian REIT (87001) shares rose among the HK REITs, edging 0.44% higher to ¥2.28.


Malaysia stocks avoided the sell-off. The FTSE Bursa Malaysia KLCI Index traded sideways, remaining unchanged at 1,397.25

Al-Aqar Healthcare REIT (5116) recorded the largest swing, with shares down 3.55% to RM1.36.

While most Malaysian REITs finished flat or down, Axis REIT (5106) rose 0.50% to RM1.98.

Other markets

In Korea, Shinhan Alpha REIT Co. Ltd. (293940) shares dropped 2.08% to ₩6,120, while Lotte REIT Co. Ltd. (330590) declined 1.72%.

In New Zealand, Kiwi Property Group Ltd. (KPG) stocks closed 2.23% lower at $0.88, as Goodman Property Trust (GMT) finished down 1.55%.

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.