Galaxy Entertainment climbed in Hong Kong trading as private equity firm Permira Advisers agreed to sell shares in the firm in a private placement, showing investor demand. Galaxy closed 3.4 per cent higher at HK$22.65. Permira agreed to sell a 6.65 per cent stake in the Macau casino operator to a "small selective group of investors", Galaxy told the stock exchange. Bloomberg
Shun Tak, the property and shipping conglomerate chaired by Stanley Ho Hung-sun, announced a 177.14 per cent jump in underlying profit for the first half to HK$97 million. Including a revaluation gain on investment properties, net profit surged 352.25 per cent to HK$1 billion from last year. No interim dividend was declared. Sandy Li
Sing Tao News Corp posted a 44.6 per cent year-on-year fall in first-half net profit to HK$50.5 million as revenue dropped 8 per cent to HK$1.05 billion. The publisher said the circulation expansion of Headline Daily, its free newspaper, and higher newsprint prices cut into profit margins. Sophie Yu