HONG KONG: Hong Kong stocks has risen 0.53 per cent, boosted by a rally in Hutchison Whampoa which says it plans to buy British telecom giant O2 for $US15.2 billion ($A19.30 billion).
Shanghai however has slipped after a 10-day winning streak.
The benchmark Hang Seng Index added 128.63 points to finish Wednesday at 24,528.23 on turnover of $HK83.59 billion ($A13.70 billion).
The index was Asia’s best performer despite a fall on Wall Street fuelled by renewed talk of a US rate rise, after consumer prices rose in February for the first time in four months.
The Dow dipped 0.58 per cent, the S&P 500 fell 0.61 per cent and the Nasdaq lost 0.32 per cent.
Market giant Hutchison Whampoa rose 2.03 per cent to $HK105.70 after announcing it will buy O2 from Spain’s Telefonica in a deal that could create Britain’s biggest mobile phone firm. Hutchison already owns Britain’s Three mobile phone network.
The purchase is the latest by Hutchison’s Hong Kong owner Li Ka-shing, one of Asia’s richest men.
Cheung Kong Holdings, which is also owned by Li, rose 2.18 per cent to $HK154.70, while Macau casino operator Sands China advanced 2.34 per cent to $HK32.80.
