The deal comes after U.S. President Donald Trump repeatedly threatened to take control of the Panama Canal and end what he sees as China’s influence over the waterway critical to global trade.

Shares of CK Hutchison rose 12.4 per cent in Hong Kong on Thursday, extending the previous day's 21.9 per cent gain after the sale of its Panama Canal stake to BlackRock.The stock rose to as much as HK$52.

CK Hutchison stock gained more than 22% on Wednesday after the Hong Kong conglomerate sold a majority stake in a $22.8 billion ports unit, including assets along the Panama Canal, to a group led by U.