HK-listed Wharf Real Estate Investment hits 3-week low on H1 loss forecast
14/07/2022 08:53
** Shares of property investor and mixed-use integrated
complex operator Wharf Real Estate Investment Co Ltd 1997.HK
fall 3.8% to HK$34.50, their lowest since June 23
** Stock set for its biggest pct drop since July 4 and is on
course for a fourth straight session of declines; It is the
sixth biggest pct decliner on the Hang Seng property sub-index
.HSNP
** Co says the unrealised investment properties revaluation
deficit for H1 2022 may exceed the underlying net profit and
result in a loss attributable to equity shareholders; Co
reported a HK$2.97 bln ($378.4 mln) profit in H1 2021
urn:newsml:reuters.com:*:nFWN2YU39L
** Co, which has a current market valuation of $13.63 bln,
says its overall financial, business and trading positions
remain healthy
** The Hang Seng property sub-index .HSNP drops 1.9%,
while the Hang Seng Composite index .HSCI and the Hang Seng
index .HSI both slip 0.2%
** As of last close, stock has fallen 9.5% this year
($1 = 7.8498 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))