Chinese developer Logan jumps most in 12 weeks as winding up petitions dismissed

Logan

16/02/2024 05:19

** Shares of Logan Group Co Ltd  3380.HK  jump 14.3% to
HK$0.64; on track for the biggest one-day pct rise since Nov.
23, if gains hold 
    ** Stock hits highest since Jan. 29, 2024; third biggest pct
gainer in Hang Seng Composite Index on properties and
construction stocks  .HSCIPC 
    ** The Chinese property developer says the Grand Court of
the Cayman Islands and the High Court of Hong Kong have ordered
that the Cayman Petition and the Hong Kong Petitions be
dismissed, respectively 
    ** Hang Seng Mainland Properties Index  .HSMPI  jumps 4.4%, 
Hang Seng Composite Index on properties and construction stocks
 .HSCIPC  climbs 3.5% and Hang Seng Index  .HSI  rises 2.2%
    ** Stock up 1.6% YTD 

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