HOCK LOCK SIEW
As tech and banks take a beating, S-Reits look like safe shelter – but watch out
High yields and rising rents look attractive, but the bond-yield worry hitting banks can reach Reits too
[SINGAPORE] Rain in Singapore comes fast, so one minute you can be strolling to the MRT and then sprinting for the nearest void deck the next.
Investors have been sprinting for weeks, and they now have two separate storms to run from – one over tech and the other over the banks. Neither is a drizzle.
The tech storm blew in from Wall Street, where the Philadelphia Semiconductor Index – which tracks the largest US-listed semiconductor names and is seen as a barometer for the chip industry – lost 15.4 per cent in October. By Monday (Nov 2), it stood nearly 30 per cent below its June record.
