** Shares of aluminium products manufacturer China Hongqiao Group Ltd jump 4.9% to HK$12.38, on course for the biggest one-day pct gain since April 24
** Stock third-biggest gainer in Hong Kong's material index
and Hang Seng Index
** China Hongqiao says its controlling shareholder has purchased a total of 6.65 mln shares in the open market on June 17 at an average price of HK$11.76 per share, raising its stake in the company to 64.27% from 64.20%
** Co says the increase in shareholding reflects controlling shareholder's confidence in the company's prospects and long-term growth and it would further increase its shareholding in the company
** Hong Kong's material index and Hang Seng Composite Index both slip 0.2% while Hang Seng Index
eases 0.4%
** Stock up 90.9% YTD
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
Comments