[Featured Stocks] "Highest Inflation in 10 Years"... Inflation-Defensive REITs All Hit New Highs

On the 16th, as concerns about inflation eased due to a sharp drop in international oil prices and the US February Producer Price Index falling short of expectations, the KOSPI also started higher. This is a view of the Hana Bank dealing room in Jung-gu, Seoul. On that day, the KOSPI opened at 2,649.85, up 28.32 points (1.08%), and the won-dollar exchange rate opened at 1,141.2 won, down 1.6 won. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] REITs (Real Estate Investment Trusts) all hit new intraday highs on the 5th.

Mirae Asset Global REITs rose to 5,970 KRW at 9:56 a.m., up 150 KRW (0.34%) from the previous day, marking a 52-week high.

JR Global REITs, Koramco The One REITs, and Aegis Residence REITs also rose to intraday record highs of 5,640 KRW, 5,960 KRW, and 5,600 KRW respectively, before slightly declining.

REITs have been considered inflation hedges and have shown a steady upward trend since February. Following Russia's invasion of Ukraine, international oil prices and raw material costs surged, raising inflation concerns and driving funds into REITs.

According to the March consumer price index trend released by Statistics Korea on the same day, the consumer price index last month was 106.06 (2020=100), up 4.1% compared to the same month last year. This is the first time in 10 years and 3 months since December 2011 (4.2%) that inflation has risen above 4%.