Singapore REITs mostly gained as the T-bill yield fell further. REITs with European and US assets bounced the most.
What happened?
Singapore REITs posted further gains in the past week, with the CSOP iEdge S-REIT Leaders Index ETF gaining 1.4% for the week ending 13 September 2024.
The gains for Singapore REITs were driven by continued optimism that the sector will benefit from interest rate cuts, as the 6-month Singapore T-bill fell further to 3.1% in the latest auction.
REITs with overseas assets were the top gainers, following the European Central Bank’s rate cut and anticipation of the US Federal Reserve’s first rate cut in the coming week.
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