SG Morning Highlights: Rising interest rates cut by half acquisitions by S-REITs

Good morning mooers! Here are things you need to know about today's Singapore:

●Singapore shares opened higher on Friday; STI up 0.41%

●Rising interest rates cut by half acquisitions by S-REITs

●Stocks & REITs to watch: Mapletree Logistics Trust, Samudera Shipping, Incredible Holdings

●Latest share buy back transactions

-moomoo News SG

Market Trend

Singapore shares opened higher on Friday. The $富時新加坡海峽指數(.STI.SG)$ rose 0.41 per cent to 3,165.28 as at 9.04 am.

Advancers / Decliners is 70 to 41, with 73.95 million securities worth S$52.64 million changing hands.

Breaking News

Rising interest rates cut by half acquisitions by S-REITs

S-REITs have taken a hit from the rising interest rates. In H122, acquisitions made by SREITs were nearly halved from the same period last year, only clocking in a total acquisitions value of $3.6b from 13 deals.

Dominating H1 acquisitions were the office (42%) and industrial sectors.

"The sharp spike in interest rates since the start of the year and highly volatile equity markets have made fundraising more challenging and reduced accretion potential for REITs," said RHB in a report.

Stocks & REITs to Watch

$Mapletree Log Tr A (JOIU.SG)$ : Mapletree Logistics Trust on Thursday (Jul 21) reported a distribution per unit (DPU) of S$0.02268 for the first quarter ended Jun 30, up 5 percent from DPU of S$0.02161 in the year-ago period. Amount distributable to unitholders rose 17.2 percent to S$108.6 million in Q1. Gross revenue was up 14.6 percent to S$187.7 million; net property income (NPI) nudged up 13.2 percent to S$163.2 million.

$SamuderaShipping (S56.SG)$ : Samudera Shipping was slapped with a query from the Singapore Exchange Regulation (SGX RegCo) about "unusual price movements" in its shares. In its query issued at 4.52pm, SGX RegCo asked if the company was aware of any possible explanation for the trading, including any information not previously announced, or the public circulation of information by rumours or reports.

$Incredible (RDR.SG)$ : The board of directors of Incredible Holdings on Thursday (Jul 21) responded to criticism from the Securities Investors Association (Singapore) (Sias). In a bourse filing, the company said it wished to address certain "insinuations" made against it by Sias in a commentary written by Sias chief executive David Gerald.

Latest Share Buy Back Transactions