HK-listed Bank of East Asia rises most in nearly 22 yrs on report of banking business sale

The Bank of East Asia

02/06/2020 04:08

** Shares of Bank of East Asia  0023.HK  rise as much as
20.6% to HK$17.68, their highest since April 14, on their second
consecutive session of gains
    ** Stock ranks the fifth biggest percentage gainer among all
listed companies on the Hong Kong bourse 
    ** The stock later trimmed gains to HK$17.20, still up
17.3%, heading for the best day since Sept. 1998
    ** Elliott Management is closing in on victory in its
control battle with Bank of East Asia, Financial Times reported
 urn:newsml:reuters.com:*:nFWN2DE0RO
    ** The Hong Kong's last large family-owned lender starts
discussions about a sale of its Hong Kong and China banking
businesses, Financial Times reported citing people familiar with
the matter
    ** Stock down 15.8% this year as of last close
    ** Bank Of East Asia has underperformed the Hang Seng
Finance Index sector  .HSNF  by 7.1 percentage points in the
past one month
    ** The Hang Seng Finance Index  .HSNF  climbs 0.7%, and the
benchmark index  .HSI  gains 0.5%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)