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LOS ANGELES (MarketWatch) — Hong Kong stocks rose in early trading Friday, with the move coming after five consecutive sessions of declines.
The Hang Seng Index rose 49 points, or 0.2%, to 21,559.70. Shares of Lenovo Group Ltd. jumped 2.5% in the wake of reports that the company is in talks to buy International Business Machines’s computer server business. Lenovo said it’s in preliminary talks about a potential acquisition, but didn’t name the entity with which it’s in discusssions. Meanwhile, shares of China Mobile Ltd. turned 0.1% higher. The market heavyweight said it has to purchase a 12% stake in Taiwan’s Far EasTone Telecommunications Co. , saying some “conditions” for the deal hadn’t been met. The Shanghai Composite rose 1% to 2,219.02.
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The Hang Seng Index rose 49 points, or 0.2%, to 21,559.70. Shares of Lenovo Group Ltd. jumped 2.5% in the wake of reports that the company is in talks to buy International Business Machines’s computer server business. Lenovo said it’s in preliminary talks about a potential acquisition, but didn’t name the entity with which it’s in discusssions. Meanwhile, shares of China Mobile Ltd. turned 0.1% higher. The market heavyweight said it has to purchase a 12% stake in Taiwan’s Far EasTone Telecommunications Co. , saying some “conditions” for the deal hadn’t been met. The Shanghai Composite rose 1% to 2,219.02.
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