HONG KONG -- Embattled Chinese property developer Logan Group's shares lost over half their value in Hong Kong Wednesday as the stock resumed trading after a three-month halt.
The nose-dive followed Logan's earlier warning that its 2021 profit dropped by nearly 23% to 10.3 billion yuan ($1.5 billion) and that it was on track for a net loss of up to 800 million yuan in the first half of this year, owing to pandemic-driven construction delays and a downturn in the property market.
