|HKTV, i-Cable surge amid licensing rumor
Hong Kong Television Network (1137) saw its stock price up by as much as 35 percent, where i-Cable Communications (1097) gained 20 percent.
HKTV closed at HK$3.07, up 28 percent from yesterday's close.
i-Cable ended 20.5 percent higher at 47 HK cents.
Both operators said that they were not aware of any reason for the movement in the share price and trading volume, according to their statements filed to the stock exchange.
PCCW (0008) reversed losses and closed 0.6 percent higher at HK$3.48.
The government is said to announce its decision on the issue of free TV licenses. A press conference is scheduled at 5:15 pm at the Government Offices in Admiralty.
HKTV, controlled by Ricky Wong Wai-kay, Fantastic Television owned by i-Cable, as well as PCCW's Hong Kong Television Entertainment Company Limited, applied for free-to-air TV licenses between late-2009 and early-2010. Communications Authority, formerly Broadcasting Authority, had long finished reviews and submitted reports to the Chief Executive and the Executive Council.