ASIA Securities has confirmed negotiations for the sale of Hongkong China's majority stake in the company to an independent third party. Managing director Jesse Leung said yesterday inquiries had been received for the sale of Hongkong China's 50.96 per cent share in the company, but that Clement Mak's Bilboss was not one of the parties negotiating for a stake. Earlier this month, Bilboss let an $11 million option to buy the majority stake from Hongkong China expire. The stock price gained a further five cents to $2.48 yesterday, and has gained 25 per cent in the past two weeks. The best performing stock for the second day in a row was investment company China and Eastern. The counter has seen some interesting trading in its shares over the last week, and jumped 22 per cent since Monday to close at $25.30 yesterday. Last Friday, huge trade went through the market, but failed to move the share price. The company has investments in other Hong Kong stocks and in South Korea. There were two covered warrant issues yesterday. One was on Guangdong Investment and the other Cable and Wireless. Bankers Trust International issued 50 million warrants on Guangdong Investment, according to Bloomberg. The warrants were sold at $1.2436 each and strike at $5.225 on a one-for-one basis. The warrants carry a 23.8 per cent premium, a 4.2 gearing and an implied volatility in the 40s. Yesterday, the counter closed 15 cents higher at $5.225. BZW issued 25 million European-style call warrants on the spread between Cable and Wireless and Hongkong Telecom. The warrants were issued at GBP1.05 (about HK$12.49) each and will be listed in Luxembourg.