APAC REIT Daily: Mirvac shares surge, as A-REITs jump

By Benn Dorrington

REIT indices in Australia and Hong Kong rose today, while Singapore’s iEdge S-REIT Index finished lower.

Here’s how the REIT markets performed across Asia Pacific on Tuesday, 5 May 2020.

Australia

Mirvac Group (MGR) shares recovered today, rising 5.24% to A$2.21, while Abacus Property Group (ABP) rose 3.77% after the company received an A$111m debt extension yesterday.

Aspen Group (APZ) stocks fell 6.89% to A$1.014, retreating from its 7.4% surge yesterday. Charter Hall Social Infrastructure REIT (CQE) stocks declined 4.63% to A$2.27 after the trust announced plans to raise A$115m yesterday.

The S&P/ASX 200 A-REIT Index (XPJ) rose 2.56% to 1,128.58 today, as the S&P/ASX 200 climbed 1.64%.

Singapore

In Singapore, ESR-REIT (J91U) shares rose 5.97% to S$0.355 today, following an announcement about the company’s distribution reinvestment plan.

OUE Commercial REIT (TS0U)Frasers Hospitality Trust (ACV) and Sabana Shariah Compliant Industrial REIT (M1GU) all posted gains of more than 3%.

ARA US Hospitality Trust (XZL) stocks traded 3.53% lower to S$0.41, and BHG Retail REIT (BMGU) fell 1.59%.

In Singapore, the iEdge S-REIT Index fell 2.6% today, as the FTSE Straits Times Index ended trading down 2.4%.

Hong Kong

Regal REIT (1881) shares led the gains, rising 2.17% to HK$1.41, followed by Prosperity REIT (808), which gained 1.26%.

Shares in Link REIT (823), the largest REIT in Asia by market cap, were up 0.74% to HK$67.80 today despite the company issuing a profit warning yesterday.

Yuexiu REIT (405) stocks were down 0.56% at HK$3.61, while Hui Xian REIT (87001) edged 0.45% lower.

The Hang Seng REIT Index edged 0.59% higher, while the Hang Seng rose 1.15% in Hong Kong.

Other markets

In Kuala Lumpur, KIP REIT (5280) and Axis REIT (5106) shares rose 0.60% to RM0.825 and 0.51% to RM1.94 today, respectively.

New Zealand REITs Kiwi Property Group Ltd. (KPG) and Precinct Properties New Zealand Ltd. (PCT) saw shares traded 0.53% and 1.97% lower today.

In India, Embassy Office Parks REIT (EMBASSY) shares declined 2.69% to ₹354.09.

The Tokyo stock exchange was closed today for a public holiday.

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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.