• Nikkei, Kospi, Hang Seng and Australian market also down
• SIA the top gainer among STI stocks, advancing 2.45%
• Industrial Reits continue growth trajectory
Local shares went south again yesterday along with many regional markets as investors hedge their bets over global concerns around rising inflation.
The wary mood sent the benchmark Straits Times Index (STI) down 13.67 points or 0.43 per cent to 3,153.47 with losers pipping gainers 247 to 238 on trade of 1.95 billion shares worth $1.29 billion.
The Nikkei 225 in Tokyo fell 0.35 per cent, the Kospi in South Korea declined 0.97 per cent while the Hang Seng in Hong Kong inched down 0.13 per cent.
Australian shares hit a record high in the session before closing down 0.3 per cent.
Mr Jeffrey Halley, senior market analyst for the Asia-Pacific at Oanda, said: "Except for China, regional investors appear to be once again reducing exposure ahead of the inflation data, with most of Asia ever so slightly lower."
Singapore Airlines was the top gainer among the STI constituents. It advanced 2.45 per cent to $5.02, while Keppel Corp held up the rear, falling 1.51 per cent to $5.21.
Industrial real estate investment trusts (Reits) also made gains. Ascendas Reit edged up 1.38 per cent to $2.95, Keppel DC Reit gained 0.78 per cent to $2.60 and Mapletree Industrial Trust closed up 0.36 per cent at $2.79.
DBS Group Research noted yesterday that trusts have continued their stellar growth trajectory for the year so far. "Industrial Reits have so far announced and completed more than $6 billion in acquisitions in the 2021 financial year," said analysts Dale Lai and Derek Tan. "We expect to see more deals from the sector.
"With more accretive acquisitions and some organic portfolio growth, we can expect the industrial Reit sector to outperform the other segments in the near-term."
