** Shares of pharmaceuticals manufacturer Hutchmed (China)
jump as much as 11.8% to HK$25.2, their highest since Dec. 13
** Hutchmed (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around $608 million as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker
** Hutchmed anticipates to report a profit of $477 million before income tax from the transaction
** Hutchmed's largest shareholder is Hong Kong-listed conglomerate CK Hutchison in which the billionaire investor has a 28.1% stake
** Shares of CK Hutchison ease 1.6%
** Hang Seng Commerce & Industry Index slips 0.9%, healthcare index falls 1.4% and Hang Seng Index declines 1.5%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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