Sold a few counters yesterday and today after recent event and results release.
Mapletree North Asia Commercial Trust
Was alerted in the last quarter after guidance of weaker office demand in Beijing that might lead to lower occupancy and rental revision at Gateway Plaza. With the recent turmoil at Hong Kong, feeling jittery about near term outlook. After delaying the decision for a week, still feel unease and hence decided to sell yesterday at $1.41 before the results released. It has released a good set of results but my concern is for the next few quarters. Hopefully I am wrong and it can continue to do well. I am happy with the 30% profit.
I am still convinced of its long term story but decided to pare down my stake as short term weaknesses might persist as it might also be affected by the Hong Kong protests too. I am likely to transfer part of this cash proceed to my US portfolio. Sold at $1.11 to take a profit of 22%. Remaining stake still occupies 5.2% of my portfolio.
Far East Hospitality Trust
Bought it last year thinking that it might have turned its fortune around. Two quarters of decreasing DPU changed my mind. So decided to let it go. Felt fortunate to be able to sell it at $0.685 to take a profit of 4.3%