REITs and property developers will be winners in BoJ's asset buying

Japan's property sector posted a major advance on the stock market after the Bank of Japan announced an unorthodox asset-buying program that includes a wide range of asset types, including real estate investment trusts, exchange-traded funds, commercial paper and corporate bonds. Fund managers and economists said the liquidity injection is likely to be uniquely beneficial to Japan's REITs, which have lost two-thirds of their value since the beginning of the financial crisis.

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