Trump tariffs spark S-Reits sell-off but analysts say sector remains ‘safe haven’

[SINGAPORE] Almost all Singapore-listed real estate investment trusts, or S-Reits, ended in the red on Wednesday (Apr 9), with US office and China-exposed S-Reits among the top losers.

The share movement comes after US tariffs, which include a 104 per cent tax on many Chinese goods, took effect at 12.01 am US time on Wednesday. The “Liberation Day” taxes were announced by US President Donald Trump on Apr 2.

Manulife US Reit had the biggest decline among S-Reits, falling 10.2 per cent to end at US$0.053. Two other US office Reit counters were among the top 10 decliners. They were Prime US Reit , which shed 5.9 per cent, as well as Keppel Pacific Oak US Reit which fell 5.1 per cent.