Investors make a play for Reits
Possibility of Fed rate cut has Reits trading above their average daily volumes and outperforming the benchmark STI
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TRADE tensions and growth worries continued to plague the local equity market, but investors took heavily to indicators that the US Federal Reserve could lower interest rates in the near future, giving rise to activity in real estate investment trusts (Reits).
Singapore's Straits Times Index (STI) closed at 3,146.18, up 3.81 points or 0.1 per cent on Thursday.
IG market strategist Pan Jingyi noted: "The STI had largely oscillated near neutral in the day, with the opposing forces of worries on the impact of trade tensions and expected US Federal Reserve support locking prices in."
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