China's COSCO climbs as Germany approves Hamburg port terminal deal

COSCO SHIPPING Ports

11/05/2023 03:53

** Shares of China's COSCO Shipping Ports Ltd  1199.HK 
climb as much as 2.4% to HK$6.03
    ** Stock hits highest level since Feb. 2, and extends gain
for the sixth consecutive session
    ** Stock is the second-biggest pct gainer in Hang Seng
Composite Index on industrials stocks  .HSCIIG 
    ** Port logistics firm HHLA  HHFGn.DE  said on Wednesday the
German government has cleared COSCO's purchase of a 24.9% stake
in a container terminal in the sea port of Hamburg
    ** The clearance comes after the German economy ministry
said last month that it was reviewing a decision to allow Cosco
to take the stake
    ** Hang Seng Commerce & Industry Index  .HSNC  eases 0.3%
and Hang Seng Composite Index on industrials stocks falls 0.5%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  each slips 0.2%
    ** As of last close, the stock had slid 5% this year

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