Those measures will further test investor appetite for Singapore’s REITs. With a 26% plunge, a gauge tracking them is heading for its worst quarterly drop since 2008 even though the firms offer the region’s highest yields. Unit prices have tumbled in recent weeks on mounting virus concerns and a sell-everything mentality in global markets.
SINGAPORE (Mar 25): The coronavirus outbreak may hit Singapore real estate investment trusts harder than the global financial crisis did, according to Jefferies Financial Group Inc.
Singapore announced on Tuesday its strictest measures yet to combat the spread of the virus, including shutting bars and cinemas, and deferring or canceling events starting from 11:59 pm on Thursday. Public venues such as retail malls and museums will have to ensure that groups do not exceed 10 people.
