FSTREI grows 0.5% in the past two weeks
UOB Kay Hian said this showed the resiliency of Singapore REITs.
UOB Kay Hian has reported the FTSE ST Real Estate Investment Trusts Index (FSTREI) gained 0.5% in the past two weeks, reflecting the resilience of Singaporean REITs despite the market's upheaval.
The investment bank said the streamlining of safe management measures towards the COVID-19 pandemic, which started on 15 March, contributed and will continue to contribute to the uplift. However, it said the Russia-Ukraine conflict created heightened uncertainties for the market.
About REITs performance, the healthcare ParkwayLife REIT and real estate Keppel REIT were top performers for the past two weeks, whilst Cromwell Europe REIT and IREIT were the bottom performers, partly due to their connections in Europe.