- November 1, 2016: Vol. 8, No 10

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Market moves still dominated by central-banking policy

by Christopher Hartung

During September, Asia Pacific property stocks fared modestly better than global property stocks, which were dragged down by weak US performance resulting from a rotation away from yield-oriented securities. In general, the magnitude and direction of central-bank policies around the globe have continued to dominate market moves. For the month, the Asia Pacific region returned 1.4 percent, which was ahead of both overall global equities (up 0.7 percent) and global property stocks (down 0.4 percent). For the year through September, property stocks generally have performed well, up 11.0 percent in Asia Pacific and up 11.8 percent globally. While there was some shift away from yield during the month as investors became cautious about full valuations, the overall demand for yield is still evident in REIT-specific performance; Asia Pacific REITs are up 23.2 percent for the year through September (based on SNL Financial data, with quoted country returns in local currency, and regional inde

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