Markbericht Asien Oktober 2010

The economic impact of the global financial crisis on Asia-Pacific has proven to be shallow compared to other regions of the world.

Executive Summary

Asia’s robust economic growth continued in the third quarter due to
increases in private sector spending and export volume, and strong
domestic consumption. The rebound in 2010 is in sharp contrast to
last year’s contraction.
Subsiding fears about a credit crisis emanating from Europe helped
Asia’s capital markets to rally during the third quarter. Bond spreads
fell during the quarter, while the region captured 83% of global initial
public offerings (IPOs) during the quarter.
Heightened investor demand for Asian real estate is illustrated by the
reception given this month to two new listed logistics firms sponsored
by the Government of Singapore and Mapletree Investments.
Combined, the firms raised nearly S billion (US.6 billion) of
equity and could have raised more. The region’s REITs posted strong
returns in 3Q10, with double-digit gains in Hong Kong and Singapore.
More signs emerged in the quarter that class-A office rents have
recovered. Demand for quality space from relocation or expansions
improved notably, which drove down vacancies in new office
buildings.
The region’s consumer market has benefited from the economic
recovery, and retail sales are poised to trend higher going forward.
Demand for retail space should increase meaningfully, which should
provide a boost for rents.