HNA's Hong Kong property arm hits near 4-week high, eyes sale of land

Tysan Holdings

28/01/2019 02:14

** Shares of Hong Kong International Construction Investment
Management Group Co Ltd  0687.HK  rise as much as 2.5 pct to
HK$2.43, their highest since Jan. 2, after the Hong Kong
property arm of HNA Group says it's in talks to sell land site
in the city
    ** Last week, Chinese conglomerate HNA Group  HNAIRC.UL 
said it had sold a majority stake in a Manhattan building in a
$422 million deal, the latest in a slew of asset disposals
undertaken by the group to ease an intensifying cash crunch
 urn:newsml:reuters.com:*:nL3N1Z92ZL
    ** The Hong Kong-listed arm says it is in discussion with a
potential buyer for sale of a parcel of land at Kai Tak in
Kowloon but no legally-binding sale and purchase agreement has
yet been entered (https://bit.ly/2UkeoDV)
    ** Hong Kong International Construction Investment
Management Group has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 9.5 percentage points in the
past one month
    ** The Hong Kong property sub-index  .HSNP  gains 0.4 pct,
and the benchmark index  .HSI  climbs 0.7 pct

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