STOCKWATCH: New World down sharply ahead of earnings release

New World Development(0017) slid sharply in the late morning trading ahead of earnings to be released tomorrow, dealers said. They pointed out market expected New World 6-month net profit to last Dec to be HK$300-400 mln, lower than expected HK$700-800 mln.Analyst unanimously downgraded predictions on the company's earnings after its administration told reporters the lower-than-expected earnings.

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