CK Hutchison Holdings shares rose after announcing plans to exit the UK mobile market, suggesting investors believe the Li family may have timed a market peak for selling.

CK Hutchison Holdings’ shares climbed to their highest level since 2020 after the conglomerate announced plans to exit the UK mobile market, signalling that investors believe the Li family may once again have timed an industry peak before the broader market. Shares rose about 12 per cent to HK$73.30 on Monday from the May 5 close, after the company said it would sell its 49 per cent stake in VodafoneThree for US$5.8 billion. CK Hutchison said the disposal was expected to generate a gain of about...