REITs and Property Trusts with considerable interests in China and Hong Kong slipped by as much as 6 percent today as fresh concerns loom over the region. This comes on the back of a warning by HSBC Holdings that slower Chinese growth will continue to hurt its prospects in the market. Shares of HSBC Holdings tumbled by 5 percent after it missed profit estimates.
 |
| CapitaRetail China Trust plunged close to 5 percent at the end of the trading day. |
Leading the slip was Forterra Trust which has reported a 22 percent drop in revenue for its 2Q2013. The only REIT that came out relatively unscathed from today's slip was Mapletree Greater China Commercial Trust after it reported higher-than-expected distributions for its last reporting quarter.
| REIT / Trust | Last | Drop | % Drop |
|---|---|---|---|
| Forterra Trust | 2.22 | 0.14 | -5.93 |
| CapitaRetail China | 1.47 | 0.07 | -4.545 |
| Fortune REIT (HK$) | 6.75 | 0.06 | -0.88 |
| Mapletree GCCT | 0.955 | 0 | 0 |
There have been fresh concerns in recent times that the Chinese government will not be extending stimulus despite a fall in the purchasing managers index to an eleven-month low. China has indicated that it will be looking to maintain a 7.5 percent growth target for the year.