Fubon HK rises after China approves Xiamen purchase

Updated Wednesday, November 19, 2008 10:39 am TWN, Bloomberg

Fubon HK rises after China approves Xiamen purchase

Fubon Bank (Hong Kong) Ltd., the Hong Kong unit of Taiwan’s second-biggest financial services company, rose by the most in two weeks after China approved its purchase of a stake in a mainland bank.

Fubon’s shares gained 11.3 percent to HK$2.16 at 10:28 a.m Hong Kong time, outperforming a 1.9 percent decline in the local Hang Seng index.

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