Reits, banks hit in weak session
Sell-off in Reits sees 18 of top 20 actives close lower, resulting in 0.83% drop in FTSE FT Reit index
THERE were no real surprises on Wednesday as the Straits Times Index (STI) dropped 18.79 points to 3,232.47 in response to Wall Street's large overnight fall that came about because of concerns over the North Korea situation and the US government's debt ceiling.
What was surprising however, was a large sell-off in real estate investment trusts (Reits) which saw 18 of the top 20 actives close lower. As a result, the FTS…
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