You are here

Australian realtor McGrath issues profit warning as new rules curb Chinese interest

Warning is McGrath's second since January; shares plunge 26% in early trade before paring losses

Sydney

AUSTRALIA'S only listed realtor, McGrath, issued a profit warning on Monday that sent its shares plunging, as higher taxes and other restrictions resulted in a sharp pullback in Chinese buying interest for new apartments.

The warning, McGrath's second since January, is the

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom