Wee Hur jumps 5%; shares soar over 14% this week on Australia lifting foreign student cap

[SINGAPORE] Shares of student acccommodation operator Wee Hur rose on Wednesday (Aug 6) on news of Australia raising its cap on foreign students in 2026.

As at 10.20 am, the counter rose to S$0.73, 5 per cent or S$0.035 above its Tuesday closing price of S$0.695, with 9.7 million shares changing hands.

By 10.39 am it had eased slightly to S$0.725, still up from Tuesday’s close by S$0.03 or 4.3 per cent, with some 10.4 million shares having changed hands.

The stock is up more than 14 per cent since Monday, the day the Australian government announced that the country would raise its cap on foreign students by 9 per cent to 295,000 next year and prioritise applicants from South-east Asia.

Wee Hur has eight facilities for purpose-built student accommodation in Australia.

Limits on places were announced by Australia in 2024, to rein in record migration that had contributed to surging housing prices.

However, as the policy succeeded in bringing down international student numbers, an additional 25,000 places will be granted in 2026, the government said.