Japan’s hotel REIT rout continued, as Australian REITs edged higher today. Here’s how the REIT markets performed across Asia Pacific on Monday, 4 May 2020.
The S&P/ASX 200 A-REIT Index (XPJ) closed 0.7% higher, while the S&P/ASX 200 finished trading 1.4% higher at 5,319.8.
In Singapore, the iEdge S-REIT Index fell 2.6% today, as the FTSE Straits Times Index ended trading down 2.4%.
Mapletree Industrial Trust (ME8U) stocks posted a 0.78% gain to S$2.57, while Mapletree Logistics Trust (M44U), CapitaLand Retail China Trust (AU8U) and ARA US Hospitality Trust (XZL) finished the day unchanged.
Hotel J-REIT shares continued to fall in Tokyo today, led by a 4.9% decline in Hoshino Resorts REIT Inc. (3287) stocks to ¥352,000.
The only J-REIT to make material gains was GLP J-REIT (3281), which traded 1.2% higher to ¥140,300, while Japan Real Estate Investment Corp. (8952), Starts Proceed Investment Corp. (8979) and other posted gains of less than 1%.
The TSE REIT Index closed 0.8% lower and the Nikkei fell 2.8%.
In Hong Kong, the Hang Seng REIT Index was down 3.6% to 5,830.44 today, while the Hang Seng fell 4.2% to 23,613.80.