COMPANIES The share price of Hong Kong’s Bank of East Asia on Thursday rose sharply for the second day after Guoco Group stepped up its stakebuilding and prompted speculation that it would launch a takeover of the territory’s largest locally-owned bank by assets.
BEA shares rose as much as 9.5 per cent to HK$36.50, having gained 15 per cent on Wednesday in its biggest one-day jump in 11 years. They closed 2.1 per cent higher at HK$34.05, giving the bank a market capitalisation of HK$62.9bn (US$8.1bn).
