HK-listed Kerry Properties climbs most in nearly 8 weeks on warehouses sale

Kerry Properties

23/05/2022 06:21

** Shares of Kerry Properties Ltd  0683.HK  climb 2.4% to
HK$21.20, the biggest intraday pct gain since March 29 
    ** The property developer and investor's stock hits the
highest since May 6 on its second straight session of gains; the
ninth-biggest pct gainer in Hang Seng Composite Index on
properties and construction stocks  .HSCIPC  
    ** Co says it has agreed to sell two warehouses in Hong Kong
to Chinese state-owned China Resources Logistics for HK$4.62 bln
($589 mln), raising additional working capital for its future
business development  urn:newsml:reuters.com:*:nL2N2XE06K
    ** Says it estimates gain of HK$883 mln ($112.50 mln) from
the disposal 
    ** The Hang Seng Composite Index, which tracks properties
and construction stocks  .HSCIPC , slips 1.1% and the Hang Seng
Mainland Properties Index  .HSMPI  drops 2.2% 
    ** The Hang Seng Composite Index  .HSCI  falls 1.8% and the
benchmark Hang Seng Index  .HSI  slumps 2%


      ($1 = 7.8489 Hong Kong dollars)

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