0837 GMT - Asian real-estate investment trusts appear to lack structural buffers against interest-rate volatility, says Julius Baer's Jen-Ai Chua in commentary. The region's REITs continued to underperform both equity and bond markets in 3Q, ending the first nine months with losses of 9.4% in dollar-denominated total returns terms, she says. Surging interest rates and a firmer dollar drove the decline, and higher inflation and rising policy rates could continue to depress Asian REIT returns, she adds. Asian REITs largely lack exposure to areas with structural growth, such as data centers, healthcare and residential, the analyst adds, noting they are biased toward "old economy" sectors such as office and retail. The sector is building up exposure to newer growth drivers, but this will take time, she adds.