Broker Name: OCBC Investment Research

Date of Report: 31 October 2025

Excerpt from OCBC Investment Research report.

• Report Summary
• Global markets were mixed, with US stocks dropping mainly due to concerns about rising capital expenditure at major tech firms, while Europe and Asia saw more stable performance amid steady economic data and central bank actions.
• Singapore REITs and trusts reported varied operational and financial updates: Mapletree Industrial Trust saw weaker distribution but improved balance sheet; CapitaLand China Trust continued to face weak retail and business park performance; Keppel REIT added a retail asset to its portfolio with steady distributable income; Starhill Global REIT maintained stable performance and occupancy.
• Recent market statistics showed moderate changes in major indices, FX, and commodities, while ESG efforts and capital management remain key focus areas for the highlighted REITs.

Above is an excerpt from a report by OCBC Investment Research. Clients of OCBC Investment Research can be the first to access the full report from the OCBC Investment Research website : https://www.ocbc.com/group/investment-research