HNA-related stocks surge after report of state takeover plan
20/02/2020 02:26
** Stocks linked to HNA Group surge on Thursday in both mainland China and Hong Kong, following a report of a planned state takeover of the group as coronavirus hits business ** China plans to take over HNA Group Co and sell off its airline assets, as the coronavirus outbreak has hit its ability to meet financial obligations, Bloomberg reported on Wednesday, citing people familiar with the matter urn:newsml:reuters.com:*:nL4N2AJ3QV ** Shanghai-listed shares of Hainan Airlines Holding 600221.SS and HNA Innovation 600555.SS , and Shenzen-listed stocks of HNA Investment Group 000616.SZ rise by their 10% daily limit ** HNA Technology 600751.SS , Bohai Leasing 000415.SZ , HNA Infrastructure Investment Group 600515.SS rise 2.4%-9.6% ** In Hong Kong, HNA Tech 2086.HK soars as much as 75% and Hainan Meilan International Airport Co 0357.HK rises more than 6% (Reporting Luoyan Liu and Samuel Shen, Editing by Himani Sarkar) ((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))