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Microcap & Penny Stocks : China stocks CIND,CHRB.
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To: Tony Grier who wrote (172)12/4/1996 12:23:00 AM
From: Young   of 303
 
China Resources Rises to Record on Hong Kong Port Purchase Shares in China Resources Enterprises Ltd. rose more than 7 percent to a record amid optimism the Chinese company will profit by buying part of Hong Kong's dominant portoperator. The company, the investment arm of China's foreign trade minister, said Tuesday it will pay HK$3.5 billion ($452.8 million) in cash and stock for 10 percent of Hong Kong International Terminals Ltd. from parent company China Resources (Holdings) Co. The port operator, controlled by Hong Kong conglomerate
Hutchison Whampoa Ltd., will boost China Resources' earnings by as much as a third next year, analysts said. HIT handles about 60 percent of the cargo loaded in Hong Kong harbor each year and operates ports in China.

Thanks!
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