This was due to the US Federal Reserve (US Fed) maintaining a “hawkish stance” during its Jackson Hole Economic Symposium. Fed chair Jerome Powell said that fighting inflation is the Fed’s top priority, even if some “pain” is required.
UOB Kay Hian analyst Jonathan Koh has maintained his “overweight” call on the overall Singapore REITs (S-REITs) sector, even as the sector declined in the two weeks from Aug 16-31.
The FTSE ST Real Estate Investment Trusts Index declined 4.3% in the past two weeks, underperforming the bench Straits Times Index (STI) that fell by a mere 1.1% in comparison.
