Hong Kong stocks ended higher on Monday, extending a winning streak to four sessions, led by two of tycoon Li Ka-shing’s major companies following reorganizing plans announced late last week.
In Hong Kong, the Hang Seng index added 106.51 points, or 0.5%, to 24,026.46.
Cheung Kong Holdings Ltd. and Hutchison Whampoa Ltd.— 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 two companies will be put in a new company, to be called CK Property, while the rest of the two companies’ businesses will be listed as CKH Holdings.
Among other market movers, Hong Kong real estate developer Wheelock & Co. Ltd. surged 7.3%. However, China Molybdenum Co. edged 0.2% lower, with investors appearing to shrug off news that the metal producer forecast a 55% jump in its profit for last year.
Japanese markets were shuttered for a holiday.
In other markets;
The Shanghai CS300 index fell 33.15 points, or 0.9%, to 3,513.58
The Kospi in Korea slipped 3.75 points, or 0.2%, to 1,920.95
In Taiwan, the Taiex index faded 37.28 points, or 0.4%, to 9,178.30
In Singapore, the Straits Times Index regained 6.45 points, or 0.2%, to 3,344.89
New Zealand’s NZX 50 index added 24.96 points, or 0.5%, to 5,609.80
Australia’s S&P/ASX 200 slid 42.87 points, or 0.8%, to 5,422.70
