HONG KONG -- Hong Kong real estate conglomerate New World Development on Monday saw its stock price plunge by as much as 14.1% to the lowest level in 21 years after it warned of a hefty loss.
The company expects to record a loss attributable to shareholders of 19 billion to 20 billion Hong Kong dollars ($2.4 billion to $2.6 billion) for the latest fiscal year through June, it said in a filing to the Hong Kong Exchange after the market closed last Friday.
