- C-REITs returns fell marginally by 0.3% M-o-M in July to underperform the region’s REITs, as well as the SSE Composite, which rose 3.7% in the same period. Offshore listed Chinese REITs also rose by over 6% for a second consecutive month.
- Chinese stocks have bounced off their April lows, with ample domestic liquidity sustaining the rally. Markets are reacting positively to recent government moves to curb excessive price wars and overcapacity in some sectors, which could ease deflation and boost corporate earnings. The increase in risk appetite have likely prompted a rotation out of more defensive stocks, like REITs.
- The major REIT sectors corrected, with rental housing suffering the largest drop of over 3%. Industrial parks and logistics sectors remained relatively resilient.
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