Strong markets trigger sell-downs outside Hong Kong

The controlling shareholder of Indonesian coal company Indika sells $212 million of shares while, in Malaysia, Khazanah raises $128 million by reducing its stake in Malaysia Airports.

While deal activity in the Hong Kong market took a breather yesterday following a more than 200-point drop in the Hang Seng Index for a second straight day, investors elsewhere in Asia stepped forward to take advantage of higher share prices. 

In Indonesia, the controlling shareholder of Indika Energy raised Rp1.913 trillion $212 million from the sale of a 10% stake in the company and, in Malaysia, government investment company Khazanah Nasional sold a 6% stake in Malaysia Airports as it continued its effort to reduce the state-ownership of listed companies. The latter sale totalled M$396 million $128 million.

A third sell-down of size took place in South Korea where Korea Development Bank...

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