HONG KONG: Hong Kong stocks climbed in early trade on Monday, running in the opposite way from most other Asian markets, as stocks of two of tycoon Li Ka-shing’s major companies increased following restructured plans publicized previous week.
The Hang Seng Index HSI, +0.06% moved up 0.5%, as Cheung Kong Holdings Ltd. 0001, +14.42% CHEUY, +10.29% and Hutchison Whampoa Ltd. 0013, +12.41% HUWHY, +10.31% — both controlled by Li, and both constituents of the Hang Seng — soared 14.7% and 12.5%, respectively. Li said Friday that the property assets of the companies will be carved out into a new company, to be called CK Property, while the rest of the two companies’ businesses will be listed as CKH Holdings. Among other movers, mainland Chinese developer Greentown China Holdings Ltd. 3900, -1.47% GTWCF, -6.12% inched up 0.1%, as the company said its December contract sales climbed more than 40% from a year earlier. China Molybdenum Co. 3993, +0.60% advanced 1.8%, after it forecast a 55% jump in its profit for last year. Over on the mainland, the Shanghai Composite Index SHCOMP, -2.12% fell 0.7%
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
