November 13, 2019 / 11:20 AM / a month ago

Singapore-listed REIT Mapletree slips after Hong Kong mall damaged by protesters

A man tries to extinguish a burning Christmas tree at Festival Walk mall in Kowloon Tong, Hong Kong, China November 12, 2019. REUTERS/Athit Perawongmetha

SINGAPORE (Reuters) - Singapore-listed Mapletree North Asia Commercial Trust (MAPE.SI) ended lower on Wednesday, after it said protesters caused extensive damage to its Festival Walk mall in Hong Kong on Tuesday night.

Its units ended nearly 5% down at S$1.16 after falling as much as 5.7% during the session, their biggest intraday slip since May 2016. The broader market .STI closed 0.8% lower.

Anti-government protesters paralyzed parts of Hong Kong for a third day on Wednesday, with some transport links, schools and many businesses closing after an escalation of violence.

Hong Kong has been gripped by months of often violent protests against mainland China’s perceived growing influence over the semi-autonomous city.

A few groups of protesters smashed the glass panels at entrances to the property, including the office lobby and balustrades on various levels of the mall, Mapletree North Asia said in a statement on Wednesday.

“They also set fire to the Christmas tree within the mall, as well as the office lobby,” it added. The company said the fires were eventually put out and there were no reports of injuries.

It said it was assessing damage to the mall, which has been shut since Tuesday afternoon.

Reporting by Aradhana Aravindan in Singapore; Editing by Rashmi Aich

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