HONG KONG, June 2 (Reuters) - Shares of New World Development 0017.HK dropped as much as 9.8% after the Hong Kong property developer said it would defer coupon payments scheduled for June on perpetual bonds, casting further liquidity concerns for the cash-strapped firm.
The shares fell to HK$4.32 ($0.5508) each, their lowest since April 9. That compared to a 1.9% fall in benchmark Hang Seng Index. .HIS
($1 = 7.8428 Hong Kong dollars)
(Reporting by Hong Kong newsroom; Editing by Christian Schmollinger)
((donny.kwok@thomsonreuters.com; +852 3462 7745;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.