CK Hutchison hits over 2-year high ahead of ports deal deadline

About this update from Ck Hutchison Holdings Ltd

** Shares of CK Hutchison's HKEX:1 climb 2.9% to HK$53.8, their highest since May 2023; set for 12th consecutive session of gains** Stock on track to end the week up 9.4%, biggest weekly pct gain since early March ** Second-biggest pct gainer on Hang Seng Composite Index tracking conglomerates (.HSCIC), which is up 0.9%** CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with sources saying that a Sunday deadline for exclusive talks was likely to be extended** The outlook for the deal has been clouded further in recent days, with a source telling Reuters that China Cosco Shipping Corp (COSCO) was also looking to join the consortium to buy the ports business** COSCO did not respond to a request for comment** YTD, CK Hutchison up 28.9%

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