Daily Briefing: Singapore includes yuan investments in foreign reserves; REITs face market jitters

And flexibility is key for landlords in weak rental market.

Singapore's central bank said Wednesday it will make its financial investments in the yuan part of its official foreign reserves from June, reflecting the Chinese currency's increasing international acceptance. The Monetary Authority of Singapore (MAS) said its decision "recognises the steady and calibrated liberalisation of China's financial markets, and the growing acceptance of (yuan) assets in the global portfolio of institutional investors". Read more here.

As the result of a Brexit referendum remains uncertain, real estate investment trusts here are expected to brace for market jitters that may trigger volatility, and a recent report by OCBC revealed that REITs with UK exposure will be most affected. Among the real estate players the report named is Ascott Residence Trust which owns four serviced residences in the UK. Find out more here.

For Singapore landlords renting out their private condos, it's time to adopt some flexibility when it comes to negotiating your rental contracts as the residential rental market weakens. Non-landed private rental prices decreased by 0.6% in May 2016 compared to the previous month, and dropped by 5.2% from May 2015, according to SRX Research. Read more here.

Also Read

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Lower private transport costs ease inflation to 2.7% YoY in March

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