BUZZ-New World Development leads slide in Hong Kong developers as rate-cut hopes diminish

Reuters04-11

** New World Development's shares fall 6.6% to HK$8.25, on track for biggest one-day pct drop since March 1

** Other Hong Kong-listed property developers also lower

** New World Development, which has one of the highest debt ratios in Hong Kong's property sector, sinks to lowest since March 28

** Company's shares biggest pct loser in Hang Seng Property index and third-biggest decliner in Hang Seng index

** Prospects for a first Federal Reserve interest-rate cut before the end of summer took a body blow on Wednesday with another U.S. inflation report that cast into stark relief the stickiness of price pressures across the U.S. economy

** Traders are now betting the Fed will deliver a first quarter-point interest rate cut at its Sept. 17-18 meeting, with one more rate cut by the end of the year

** The Fed was seen cutting rates a total five times this year three months ago

** Rival property developers Henderson Land , CK Asset , Longfor , SHKP and China Overseas Land down between 0.6% and 1.5%

** Hang Seng Property index eases 0.9% and Hang Seng index slips 0.2%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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