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Hong Kong Property Pain Worsens for New World
Posted
September 2, 2024
Views
11,780
Likes
90
Comments
25
Engagement
0.98%
September 2, 2024
11,780
90
25
0.98%
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1:28Now PlayingShares of New World Development plunged on Monday morning, after the firm said it expects to post a loss of as much as $2.6 billion for the financial year ended in June — its first annual loss in two decades. The writedown reflects a broader issue among developers as Hong Kong's property prices slides to an eight-year low. Bloomberg Intelligence's Patrick Wong discusses the implications on "Bloomberg: The China Show."
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