This might shed some light in an otherwise dark space. It's from "www.marketwatch.com" and is up on their site right now:
Australian real estate investment trusts were surging after Investa Property Group spiked plans for an initial public offer of a portfolio of Australian office tower assets. REITs had recently seen investors sell property trusts to fund their participation in the IPO.
Sydney-based Investa had conducted a roadshow to gauge support for a A$1 billion equity raising for a portfolio of seven office towers, according to a person familiar with the presentations. "The Investa float is not proceeding," a spokesman for the company said. "(The company) is not going ahead with an IPO."
Among Australian REITs, GPT Group was up 5.7%, Mirvac added 4.0% and Stockland rose 5.2%.
Hong Kong shares were getting a lift from HSBC's bullish trading update with the bank's shares up 4.2%.
So how did VPG go down today? Was it artificial? Views? Cheers.
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