STOCKWATCH: HKCB Bank higher on takeover rumours

HONG KONG (AFX-ASIA) - HKCB Bank Holding Co Ltd shares were higher as  rumours that the company will be taken over by either a Singaporean or Chinese bank or another local bank have re-surfaced, analysts said.	    At 11:18 am, HKCB Bank was up 0.20 hkd or 5.97 pct at 3.55 on turnover of 11.522 mln shares. It earlier hit a high of 3.60 hkd.	    The Hang Seng index was down 84.46 points at 13,516.52 while the finance index lost 135.49 points to 20,654.24.	    "It is the same kind of rumour that is pushing the stock higher again," a banking analyst with a local bank-linked brokerage said.	    She said due to a lack of news on the domestic front, selected stocks are being driven by speculation and unsubstantiated rumours.	    CITIC Ka Wah Bank is one of the local banks speculated to be interested in buying HKCB Bank while OCBC is among other Singaporean banks seen as keen to acquire a stake in HKCB, she said.	    Singapore banks are rumoured to be suitors of small Hong Kong banks following the take-over of Dao Heng Bank by DBS.	    Even the Agriculture Bank of China is rumoured to be one of the insterested parties, she added. 

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