HSI Burgeons 57 pts; New World Series on Sharp Rally; L'OCCITANE Plummets

Hong Kong equities ascended this morning. $Hang Seng Index (800000.HK)$ elevated 57 pts or 0.3% to 18,851; $Hang Seng China Enterprises Index (800100.HK)$ grew 14 pts or 0.2% to 6,386; $Hang Seng TECH Index (800700.HK)$ burgeoned 16 pts or 0.4% to 3,889.

Chow Tai Fook Enterprises (CTFE) proposed to acquire all the issued shares of $NWS HOLDINGS (00659.HK)$ at a premium of 14.5%. $NEW WORLD DEV (00017.HK)$ is anticipated to pocket nearly $21.8 billion from the transaction and is planning to issue $4 billion of special dividend. NWS HOLDINGS and NEW WORLD DEV shot up sharply by 8.9% and 9.6%, to $8.7 and $21.4, respectively.

$L'OCCITANE (00973.HK)$ 's share price plummeted 5.8% to $21.25 after the company announced that the annual net profit dropped by 52% and that the final dividend will be reduced.