Japan Reit market surges to 12-year high
The main benchmark tracking Japan’s real estate investment trust market soared to a 12-year high on Thursday as investors bought into an unprecedented hostile takeover battle and Tokyo office rents rose for a 65th successive month in June. The rise in Japan’s $130bn J-Reit market comes despite warnings from executives involved in the situation who say the impending proxy fight over Sakura Sogo Reit could ultimately “destabilise” a sector known for its solidity. Thursday’s sharp rise of the TSE J-Reit index follows almost two years of steady gains as Japanese interest rates remain at zero and large parts of the country’s government bond yield curve have entered negative territory.
Tags : INTERNATIONAL