Hong Kong-listed units of HNA and Fosun jumped in Hong Kong on Wednesday as the Chinese Communist party congress wrapped up with no further curbs on mergers and acquisitions or capital controls announced.
Hong Kong-listed HNA subsidiary HNA Holding popped as much as 25.9 per cent while Fosun subsidiary Fosun International rose as much as 8.4 per cent after the party’s 19th Congress concluded without mention in official documents and reports of further curbs on overseas deal binges by Chinese companies.
The companies saw their shares take a dive in June on reports China’s bank regulator had asked banks to check the “systemic risk” posed by “some large enterprises” involved in overseas buying sprees. Dalian Wanda and insurer Anbang were also said to be under greater scrutiny at the time.