HONG KONG (Reuters) – Shares of New World Development fell as much as 3% on Monday after the developer flagged that it expected to swing to a loss of up to HK$6.80 billion ($875.12 million) for the first half of fiscal 2025 on lower expected prices for its properties.
The stock fell to a low of HK$4.29 in early morning trade. The benchmark Hang Seng Index slipped 0.4%.
($1 = 7.7704 Hong Kong dollars)
(Reporting by Hong Kong newsroom; Editing by Kim Coghill)
