Hong Kong's Wharf Holdings hits near 2-year low on expecting 2022 loss
13/02/2023 02:40
** Shares of property developer and investor Wharf Holdings
Ltd 0004.HK fall as much as 3% on the second session of
decline to HK$18.72, lowest since March 2021
** Wharf says it may report a loss for 2022 as compared to
HK$6.02 bln ($766.90 mln) profit in 2021 amid weak market for
Mainland development properties resulting in much lower sales
volume and weaker prices
** Stock set for worst day since Dec 19, if losses hold
** The Hang Seng Property Index .HSNP drops 3.5% and the
Hang Seng Mainland Properties Index .HSMPI slips 0.9%
** The Hang Seng Composite Index tracking properties and
construction stocks .HSCIPC falls 2.6% and the Hang Seng Index
.HSI eases 1%
($1 = 7.8498 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))