Daily Morning Note – 23 April 2020
The overnight moves followed a bounce in U.S. equities during normal trading hours on Wednesday that helped pare the S&P 500′s 4.8% slide over Monday and Tuesday.
The Dow Jones Industrial Average rose 456.94 points, or 1.99%, to 23,475.82 during Wednesday’s session. The S&P 500 gained 2.29% to 2,799.31 while the Nasdaq Composite closed 2.8% higher at 8,495.38.
CHANGI Airport Group (CAG) is directing its focus towards air cargo, amid a significant reduction in passenger flights due to travel restrictions imposed in response to the novel coronavirus pandemic.
PARKWAY Life Real Estate Investment Trust’s (PLife Reit) distribution per unit rose 1.4 per cent to 3.32 Singapore cents for its first quarter ended March 31, from 3.28 cents a year ago.The increase was mainly due to additional revenue contribution from three Japan nursing rehabilitation facilities acquired in December 2019, rental growth of existing properties and financing cost savings.
SUNTEC Real Estate Investment Trust (Suntec Reit) on Wednesday posted a 27.7 per cent drop in distribution per unit to 1.76 Singapore cents for the first quarter ended March 31, 2020 from 2.434 cents a year ago.
KEPPEL Reit (real estate investment trust) has declared a distribution per unit (DPU) of 1.4 Singapore cents for the first quarter ended March 31, up a marginal 0.7 per cent from a DPU of 1.39 Singapore cents in the year-ago period, the reit’s manager announced on Wednesday after market close.
MAPLETREE Commercial Trust has declared a distribution per unit (DPU) of 0.91 Singapore cent for the fourth quarter ended March 31, compared with 2.31 Singapore cents in the year-ago period, despite a 10.5 per cent rise in distributable income.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
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