APAC REIT Daily: Nippon Building Fund surges, as J-REITs bounce back

By Benn Dorrington

Here’s how the REIT markets performed across Asia Pacific on Friday, 8 May 2020.


J-REIT shares surged in Tokyo on Friday, as the TSE REIT Index jumped 5.22% to 1,655.72.

Shopping centre REIT Japan Retail Fund Investment Corp. (8953) led the way, rising 13.63% to ¥137,500, while Hotel REITs Japan Hotel REIT Investment Corp. (8985) and Hoshino Resorts REIT Inc. (3287) rose more than 9%.

Shares in Nippon Building Fund Inc. (8951), the largest J-REIT by market cap, surged 6.45% to ¥676,000, while Japan Real Estate Investment Corp. (8952) rose 5.68%.

Nippon Prologis REIT Inc. (3283) was among the few J-REITs to finish lower, down 0.68%.

The Nikkei 225 rose 2.56% to 20,179.09.


A-REIT stocks, particularly retail trusts, jumped today after authorities announced the easing of COVID-19 restrictions across the country.

Vicinity Centres (VCX) stocks rose 5.14% to $1.43, while shopping centre peer Scentre Group (SCG) increased 3.77% to $2.20.

Charter Hall Long WALE REIT (CLW) shares were down 1.70% to $4.06, while BWP Trust (BWP) fell 0.85%.

The S&P/ASX 200 A-REIT Index (XPJ) rose 1.87%, and the S&P/ASX 200 increased 0.5% to 5,391.08.

Hong Kong

Stocks in China-based hotel trust New Century REIT (1275) leaped 7.92% to HK$1.09, with most Hong Kong REITs closing higher.

The Hang Seng REIT Index rose again yesterday, up 0.91%, falling in line with the 1.04% rise on the Hang Seng.

Regal REIT (1881) shares rose 2.83% to HK$1.45, and Spring REIT (1426) increased 2.36% to HK$2.60.


Keppel DC REIT (AJBU) stocks grew 2.62% to $2.35, leading the S-REITs after a day of mixed results.

The iEdge S-REIT Index fell 0.19%, while the FTSE Straits Times finished the day marginally higher.

ESR-REIT (J91U) shares declined 2.82% to $0.345, while OUE Commercial REIT (TS0U) fell 2.50%.


The Bursa Malaysia REIT Index grew 0.38%, with the FTSE Bursa Malaysia KLCI rising 0.39% to 1,382.31.

Stocks in Al-Salam REIT increased 6.52% to RM0.735, followed by AmFIRST REIT, which were up 2.30%.

Atrium REIT shares fell 1.95% to RM1.01, while MRCB Quill REIT declined 1.30%.


Thai REITs finished with mixed results, with WHA Premium Growth Freehold & Leasehold REIT shares rising 2.56% to ฿16.00.

CPN Retail Growth Leasehold REIT stocks rose 1.74%, while CPN Commercial Growth Leasehold Property Fund edged 1.02% higher.

LH Shopping Centers Leasehold REIT shares fell 3.13%, and Golden Ventures Leasehold REIT dipped 2.03%.

The country’s SET 50 Index edged 0.67% higher.

Other markets

In South Korea, K-REIT shares made marginal gains and losses, all less than 1%.

In Taiwan, Fubon No.1 REIT shares jumped 3.76% to NT$16.55, while Cathay No. 2 REIT were down 0.29%.

In New Zealand, Kiwi Property Group Ltd. (KPG) stocks closed 2.11% lower, while Precinct Properties New Zealand Ltd. (PCT) rose 2.73%.

Indian REIT, Embassy Office Parks REIT (EMBASSY), rose 1.20% to ₹349.00.

Related stories 

JP Morgan AM joins US$600m Chinese logistics JV

Alibaba buys half stake in Singapore’s AXA Tower

Japan’s NTT Urban Development buys Melbourne office for A$72m

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.