TOKYO -- Real estate shares and REITs were hit especially hard in Friday's Japanese equities market rout as traders fretted over a possible postponement of the upcoming Tokyo Olympics that have bolstered property prices in the capital.
The Tokyo Stock Exchange REIT Index closed down 187 points, or 10.5%, at 1,596 in its largest-ever one-day decline, after futures in the real estate investment trust index fell sharply enough to trigger a circuit breaker. Tokyu Fudosan Holdings took nearly 20 minutes from the start of trading to settle on a price, eventually opening down 12% from Thursday's close.
