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hsbc urges new world development to address liquidity crisis amid plummeting shares
HSBC analysts have warned that New World Development (NWD) may need a comprehensive debt-reduction plan or a capital injection from the Cheng family to address a liquidity crisis, as its shares have dropped 37% since late November, losing HK$6.4 billion in market value. Despite a recent 6.3% rally, shares remain near a record low of HK$4.04. HSBC has cut its price target for NWD to HK$3.66, with a majority of analysts rating the stock as a sell, while CEO Echo Huang is focused on improving the company's financial position.
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