SINGAPORE (June 9): Ascendas Real Estate Investment Trust (A-REIT) is up 0.9% to $2.36 after announcing that it sold a logistics facility in China, registering a gain of $5.1 million.
The divestment is a part of the REIT's capital recycling strategy, A-REIT's manager says, adding that the gain from the sale will help it look at other investment opportunities in China, Australia and Singapore.
Ascendas REIT's rise compares with a 0.5% rise in the benchmark Straits Times Index.
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