In recent years, Singapore Exchange Limited (SGX: S68), or SGX, has struggled to attract IPOs, especially from exciting technology companies that are booming despite the COVID-19 pandemic.
Hence, it is no surprise that the Straits Times Index (SGX: ^STI), which contains the 30 biggest listed companies in Singapore, is down around 24% year to date.
More than half of the index weightage is from bank and real estate stocks, which have experienced a dismal 2020 thus far.
Ascendas REIT (SGX: A17U) is the largest real estate investment trust (REIT) listed on the SGX, and forms 4.1% of the STI.
The industrial REIT is trading at S$2.93 per unit as of this Monday, down about 20% from its 52-week high of S$3.65.
As the REIT is one of the larger components of the STI, investors will be watching its performance closely over the next few months.
Ascendas REIT recently published a business update for the quarter ended 30 September 2020, and here are five key points to note....