China Renaissance surges as missing chairman cooperating in investigation

China Renaissance Holdings

27/02/2023 03:24

** Shares of China Renaissance Holdings  1911.HK  surge as
much as 9% to HK$7.74, the biggest daily pct rise since Jan. 16
if gains hold 
    ** Stock on track to snap two sessions of fall; biggest pct
gainer in Hang Seng Composite Index on financials stocks
 .HSCIF  
    ** China Renaissance said in an exchange filing on Sunday
that its missing chairman Bao Fan was currently cooperating with
relevant Chinese authorities conducting an investigation, the
first time the mainland bank has given a reason for the
disappearance of its founder
    ** Beijing-based boutique bank said its business and
operations were continuing normally
    ** The Hang Seng Composite Index on financials stocks
 .HSCIF  slips 0.5%, while the Hang Seng Composite Index  .HSCI 
gains 0.1% and the Hang Seng Index  .HSI  climbs 0.3%
    ** As of last close, the stock had fallen 12.6% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))