HONGKONG China yesterday made a significant gain as investors speculated the company was close to being taken over, rising 5.15 per cent to close 25 cents higher at $5.10.
Parent company Lippo has said it was in preliminary discussions with an unspecified third party to sell its controlling stake in Honkong China.
Meanwhile, Hongkong China also got a boost in profits through the sale of its 50.1 per cent stake in Asia Securities to Dan Form.
The property counter was among the day's best performers with 13.5 million shares traded worth $67.77 million.
Trading volume remained heavy in Asia Securities following the completion of a sales agreement between Hongkong China and Dan Form. Dan Form is required to make a general offer for all Asia Securities shares at $2.90 each.
Asia Securities was among the heaviest traded stocks, finishing the day flat at $2.80 with 8.2 million shares changing hands.