Tightened COVID-19 measures lead to massive Singapore REITs sell-off

With the recent tightening of COVID-19 measures into Phase 2 (Heightened Alert), this has lead to a massive knee-jerk sell-off of S-REITs across the board. All but 2 of the S-REITs have dropped in price, with First REIT experiencing an up to -7.41% day-on-day price drop. The table below is taken from the StocksCafe REIT screener, sorted by day-on-day percentage drop. Highlighted in blue are the top 10.


Table of S-REITs, sorted by the worst performers due to the sell-off caused by the tightening of Singapore’s COVID-19 measures. Sorted by day-on-day percentage drop. Data taken from StocksCafe REIT sceener.


However, 2 of the REITs, namely Cromwell European REIT and Keppel DC REIT, have escaped the effects of this sell-off. In fact. Keppel DC REIT went up by 0.78% day-on-day, the only REIT that rose today on the 14th May 2021.

Below is the STI index chart on the 14th May 2021. Note the sell-off just after 1pm, when the tightened COVID-19 measures were announced, leading to a 2.18% drop. Data taken from Yahoo finance.


STI index chart on the 14th May 2021. Data taken from Yahoo finance.


Meanwhile, Sheng Siong Group, a supermarket chain in Singapore, rose by more than 10%. This also happened right after 1pm, when the tightened COVID-19 measures were announced.


Sheng Siong Group Ltd (OV8) chart on the 14th May 2021. Data taken from Yahoo finance.


Want to learn more and gain insights into Singapore REITs, and engage with CEOs of REITs? Do sign up for REITs Symposium 2021, the largest REITs event in Singapore, happening on the 15th and 22nd May. Find out more here.



This sell-off represents a good opportunity, just like when Singapore first entered Circuit Breaker back in April 2020. Not sure how this sell-off will affect your investment portfolio, or want to start investing in REITs? Contact Kenny here to advise you on your REIT portfolio at kennyloh@fapl.sg.


Kenny Loh is a Senior Consultant and REITs Specialist of Singapore’s top Independent Financial Advisor. He helps clients construct diversified portfolios consisting of different asset classes from REITs, Equities, Bonds, ETFs, Unit Trusts, Private Equity, Alternative Investments and Fixed Maturity Funds to achieve an optimal risk adjusted return. Kenny is also a CERTIFIED FINANCIAL PLANNER, SGX Academy REIT Trainer, Certified IBF Trainer of Associate REIT Investment Advisor (ARIA) and also invited speaker of REITs Sympsosium and Invest Fair. 

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