HONG KONG -- Mainland China's distressed developers are issuing a steady string of loss warnings for the first half of the year, with the red ink piling up to over $8 billion over the past week alone.
A tally by Nikkei Asia of earnings guidance issued by 10 Hong Kong-listed mainland real estate companies since the market closed last Friday adds up to losses between 51.38 billion yuan and 57.68 billion yuan ($7.20 billion and $8.08 billion). This compares to the same 10 companies' aggregate losses of 56.88 billion yuan for the same period a year earlier.
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