Shares in China COSCO Holdings Co Ltd , the listed flagship of the country's top shipping conglomerate, jumped more than 10 percent on Wednesday after it reported a forecast-beating 135 percent rise in 2007 earnings.
The stock rose to an intra-day high of HK$23, up 10.9 percent in afternoon trade.
China COSCO also said late on Tuesday it plans to further expand its fleet by ordering $2.3 billion worth of new ships, including eight container ships of 13,350 20-foot-equivalent units (TEU) each and 17 dry bulk cargo ships.
The stock rose to an intra-day high of HK$23, up 10.9 percent in afternoon trade.
China COSCO also said late on Tuesday it plans to further expand its fleet by ordering $2.3 billion worth of new ships, including eight container ships of 13,350 20-foot-equivalent units (TEU) each and 17 dry bulk cargo ships.