Hutchison Whampoa rallies 5.57%, closed at HK$61.60 (ADR $39.66) in Wednesday morning session, earlier making a 22-month high of HK$63.10 (ADR $40.64), as investors taking to heart shares buy by Managing Director Canning Fok, CFO Frank John Sixt, who combined bought 1.15 million Hutchison shares Aug. 6, a day after interim results. Yesterday the stock fell 2.8% at HK$58.35 on profit-taking after 2-day 13% post-results rally.

Exchange filing shows managing director Canning Fok bought 1 million shares on August 6, at average of HK$56.75 apiece. On the same day, CFO Frank John Sixt bought 150,000 shares at HK$54.00 each. This shows management’s confidence in conglomerate’s prospective, after Hutchison reported better-than-expected 12% rise in 1H10 net profit, marks first time in years company doesn’t need to sell major assets to make up for loss-making 3G operations.

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