APAC REIT Daily: Goodman steers A-REITs higher, as K-REITs dip

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Thursday, 7 May 2020.

Australia

Goodman Group (GMG) shares rose 3.75% to $14.11 today after the company reaffirmed its full-year earnings and distribution guidance, citing growing demand for warehouse space.

Arena REIT (ARF) and Stockland (SGP) shares also traded higher, increasing 2.84% and 2.62%, respectively.

Retail stocks took a hit, with Charter Hall Retail REIT (CQR) and Shopping Centres Australasia Property Group (SCP) finishing 2.91% and 2.28% lower.

Today, the S&P/ASX 200 A-REIT Index (XPJ) edged 0.66% higher, while the S&P/ASX 200 slid 0.38%.

Japan

The Tokyo Stock Exchange REIT Index rose 0.56% to 1,573.51 today after Japan’s financial markets reopened from the Golden Week holiday.

Kenedix Retail REIT Corp. (3453) shares jumped 5.80% to ¥175,000, followed by Hankyu Hanshin REIT Inc. (8977) and Japan Logistics Fund Inc. (8967), which recorded gains of more than 4%.

Both Daiwa House REIT Investment Corp. (8984) and GLP J-REIT (3281) stocks dipped about 2% lower.

The Nikkei 225 closed 0.28% higher at 19,674.77.

Hong Kong

In Hong Kong, the Hang Seng REIT Index closed slightly lower (down 0.06%), as the Hang Seng ended the day down 0.65%.

Spring REIT (1426) shares fell 2.31% to HK$2.54, followed by minor swings against Yuexiu REIT (405) (-0.55%) and Link REIT (823) (-0.51%).

Champion REIT (2778) stocks rose 1.36% to HK$4.47, as New Century REIT (1275) rose 1%.

The Hang Seng REIT Index rose 1.05%, as the Hang Seng increased 1.20% to 24,153.92.

Singapore/Malaysia

The financial markets in Singapore and Malaysia were closed for the Vesak Day public holiday.

Thailand

In Thailand, most REITs followed the SET 50 Index, which fell 1.64% to 842.56.

Samui Airport Property Fund (SPF) shares declined 3.76% to ฿12.80, while Strategic Hospitality Extendable Freehold & Leasehold REIT (SHREIT) fell 3.12%.

Dusit Thani Freehold & Leasehold REIT (DREIT) stocks were among the few that were higher or unchanged, rising 0.56% to ฿3.58.

Other markets

In South Korea, most of the listed REITs closed lower today, led by a 1.72% dip in Lotte REIT shares.

In New Zealand, Kiwi Property Group Ltd. (KPG) shares jumped 2.15% to $0.95, while Precinct Properties New Zealand Ltd. (PCT) dipped 1.69% to $1.46.

There was little change among Taiwanese REITs except for Fubon No.2 REIT, which dipped 0.43% to NT$14.15.

In Bombay, Embassy Office Parks REIT (EMBASSY) shares closed 1.56% lower at ₹344.85.

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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.