Reuters: Global Markets: GOME shares fall 17 percent to record low after loss warning

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GOME shares fall 17 percent to record low after loss warning Jul 25th 2012, 01:48 HONG KONG | Tue Jul 24, 2012 9:48pm EDT HONG KONG (Reuters) - Shares in GOME Electrical Appliances Holding Ltd (0493.HK) tumbled more than 17 percent to a record low after it warned it would post a net loss for the first half of 2012. Shares in China's top home appliances retailer fell to HK$0.63, compared with a 0.8 percent decline in the benchmark Hang Seng Index .HSI. GOME, which competes with Suning Appliance Co Ltd 002024.SZ, said on Tuesday it expected to post a net loss for the first half due to a drop in sales revenue and losses attributable to its e-commerce business.

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