SINGAPORE (July 16): Singapore is well into Phase 2 of reopening the economy and social distancing restrictions are gradually easing. With that, UOB Kay Hian is keeping its “overweight” rating on the Singapore REITs (S-REITs) sector.
Compared to the previous week, UOBKH S-REIT Index retraced marginally by 0.6% to 252.1. Some of the week’s top performers include ARA LOGOS Trust, gaining 6.1% with the appointment of new CEO Karen Lee; and Keppel DC REIT, gaining 3.6% as data centres are beneficiaries of Covid-19 pandemic.
This is followed by hospitality REITs Frasers Hospitality Trust (FHT), CDL Hospitality Trust (CDREIT) and Ascott Hospitality Trust (ART), which increased 2.1%, 1.9% and 1%, respectively.
