The local market was a hive of activity, with trading volume clocking in at 1.47 billion securities, 23 per cent over the daily average in the first five months of 2019. Total turnover came to $1.19 billion.
Real estate investment trusts and property developers, which are among the main beneficiaries of lower borrowing costs, continue to be in favour. The Reit announced on Monday a joint venture deal to acquire a warehouse, undertaking asset enhancement initiatives at two existing properties and a private placement exercise.
Dealers noted that the banking trio rallied on expectations of a dovish Fed at a time when the global economy has a growth slowdown and frosty US-China trade issues to contend with.
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