New World Development saw its shares soar over 9% in Monday's intraday trading session, following the Hong Kong-based real estate firm's pledge to increase cash flow and cut debt levels.
The upward movement in New World Dev's stock price came despite the company reporting an interim net loss of HK$6.63 billion ($852.63 million). Investors appeared to welcome the company's commitment to strengthening its financial position through enhancing cash flows and reducing debt burdens.
While New World Dev faced challenges leading to the interim loss, its stated focus on bolstering liquidity and lowering leverage resonated positively with market participants, driving the significant intraday surge in the developer's share price.
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