• Chinese listed real estate equities rebounded and recorded the best performance in February. The unprecedented effort from the government to contain the coronavirus outbreak has buoyed investor confidence. Additional fiscal and monetary stimulus measures are expected to strengthen consumer and business sentiment.
• Japan listed real estate stocks including REITs were the hardest hit as volatility continued to grip the markets. The International Olympic Committee announced that the Tokyo 2020 Summer Olympic Games will be postponed because of the COVID-19 pandemic and the games are likely be pushed to 2021.
• Malaysia listed real estate equities were top performers among mid and smaller markets, with its REITs leading the Asia Pacific REITs. This performance comes on the heels of the recent appointment of Prime Minister Muhyiddin Yassin, following the resignation of Dr. Mahathir Mohamad.