CK Hutchison profit rises as market awaits port sale update

The conglomerate, owned by Hong Kong's richest man Li Ka-shing, has been caught up in a diplomatic to-and-fro since US President Donald Trump objected to Chinese ownership of ports along the globally strategic Panama Canal.

Last year, the company agreed to the $23 billion sale of dozens of ports worldwide, including two near the Panama Canal, to a consortium led by US asset manager BlackRock and Mediterranean Shipping Company.

It later said it was in talks for the consortium to include a "major strategic investor", which sources identified as China's COSCO.