ISSN: 2056-3736 (Online Version) | 2056-3728 (Print Version)


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.

The Hang Seng Index rose 0.5% to 24,026.46, as 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.

Over on the mainland, the Shanghai Composite Index fell 1.7% to 3,229.32.

Elsewhere, Australia’s S&P/ASX 200 dropped 0.8% 5,422.70, and South Korea’s Kospi Composite Index dipped 0.2% to 1,920.95.