Vaccine news a shot in the arm for malls, offices

Shares in shopping centre owners including Scentre, Vicinity and European giant Unibail-Rodamco-Westfield, along with office landlords such as Dexus, surged dramatically on Tuesday in response to news of a coronavirus vaccine breakthrough.

But the listed property sector's biggest player, the $36 billion Goodman Group dropped sharply – it closed 8.4 per cent down at $18.30 – as investors swapped out of an exposure to e-commerce through the global logistics fund manager, back into malls and office towers.