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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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Singapore REITs Supported by Falling Rates and Renewed Fundraising

Key Takeaways

Singapore’s REIT sector is regaining momentum, supported by falling interest rates, steady rental growth, and renewed fundraising activity. According to DBS Group Research, valuations remain attractive with S-REITs trading at 0.9x price-to-book and offering an FY26 yield of 5.8%, a 4% spread over 10-year Singapore government bond yields. Rising share prices and improved financing conditions have reopened the window for acquisitions, with $3.4 billion raised in equity and nearly $2 billion worth of deals announced year-to-date. Underlying rental growth across retail, office, and industrial assets further underpins stability, while hospitality faces near-term headwinds.

Quick Glance: Sector Highlights

  • Valuation & Yield

    • S-REITs trading at 0.9x P/B, below historical average.

    • Forecast FY26 yield of 5.8%, ~4% spread over 10-year SGS yields.

  • Fundraising & Acquisitions

    • $3.4b equity raised via placements/IPOs in 2025.

    • $2.0b acquisitions announced YTD.

    • Several REITs trading above NAV → asset recycling cycle restarting.

  • Rental Growth Trends

    • Retail: Supported by SG60 & CDC vouchers ($600–$800 per household), boosting suburban malls.

    • Office: Rental reversions +7–8%, vacancies easing from 5.2% as Grade A space absorbed.

    • Industrial: Mid-teens positive reversions; expected to moderate but remain positive.

    • Logistics: Moderation as new supply comes online.

    • Hospitality: Softer H1 2025 (tourist downtrading, high base), but seasonal recovery expected in H2.

  • Growth Outlook

    • Distributions per unit (DPU) projected to rise +1.1% in FY25 and +3.5% in FY26, driven by lower financing costs and steady rental income.

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