CK Hutchison shares jump, extending gains on ports deal

HONG KONG (Reuters) -Shares of CK Hutchison rose 12.4% in Hong Kong on Thursday, extending the previous day’s 21.9% gain after the sale of its Panama Canal stake to BlackRock (NYSE:BLK).

The stock rose to as much as HK$52.95, the highest since May 11, 2023. That outpaced a 2.2% rise in the benchmark Hang Seng Index.

U.S. President Donald Trump has hailed the deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison, including assets it holds along the Panama Canal.

($1 = 7.7709 Hong Kong dollars)

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