Hot stocks: US office S-Reits rise on Federal Reserve’s rate cut
The Fed announces an unusually large half-percentage-point reduction
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PURE-PLAY US office real estate investment trusts (Reits) listed in Singapore were trading in positive territory on Thursday (Sep 19) morning, following interest rate cut of 50 basis points by the US Federal Reserve.
Manulife US Reit (MUST) hit a high of US$0.135 shortly after the market opened, gaining 8.9 per cent or US$0.011. Prime US Reit also reached a high of US$0.21 as at 9.29 am, up 5 per cent or US$0.01.
Meanwhile, Keppel Pacific Oak US Reit (Kore) rose as much as 7.5 per cent or US$0.02 to US$0.285 in early trade.
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