Dear readers, the Singapore stocks markets, as measured by the benchmark, Straits Times Index (STI) managed to eke out a gain of slightly more than 1% gain last week.
One very noteworthy development was that the STI Reits and Trusts were among the biggest gainers last week, with gains from 4.69% to 13.12%. Not too long ago, STI Reits and Trusts were among the biggest weekly losers on the backdrop of increasing interest rates and inflation.
The biggest winner was Keppel DC Reit, which registered a 13.12% gain this week which was impressive and this was especially given the fact that the Reit has spent most of the time this year being the worst performing STI constituent stock with a year-to-date loss of some 30%.
I don’t think investors should take the performance of the STI Reits and Trusts last week as a confirmation that these stocks will go north in the near future. There remains much volatilities in the stock markets and on the back of higher interest rates, the traditionally higher dividend yields of these Reits and Trusts no longer look appealing.
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