APAC REIT Daily: REIT stocks extend losses over downturn worries

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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%.