This paper extends the research regarding the day of the week effect towards Asian securitized real estate returns. Nowadays, indirect investing on real estate securitized is foreseeable to become more and more popular. Real estate market is an attractive and profitable sector for investors to invest their assets as it takes small and very valuable risks. Numerous study on financial economics have documented the day of the week effect in daily returns has been one beneficial field to be studied. Friday effect in financial economics define as an abnormally on stock returns, which positive high returns on the end of the week and negative lower returns on the beginning of the week.
As this paper extends research on the day of the week effect to Asian securitized real estate, the daily mean returns of 4 Asian countries including China, Hong Kong, Japan, and Singapore, from 2004 to 2013 were investigated using regression analysis. The results suggest that Friday effect exist in some Asian countries. On other hand, Friday effect is identified to be different with other effect that relate to the day of the week effect. Also, there is an abnormally large autocorrelation pattern between return’s on Fridays and Mondays. The Friday effect could also be explained by the trading behavior of investors.

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