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Shanghai-based Ctrip, the biggest online travel agency in China, gained 4 percent to $50.62, the highest close since Nov. 18. It has extended its advance this year to 123 percent.
The company invested about $110 million in eHi Auto Services, becoming the Shanghai-based car rental company’s second biggest strategic investor, eHi Executive Vice President Leo Cai said in a phone interview Dec. 20.
“The car services complement Ctrip’s travel booking and can leverage Ctrip’s user base,” 86Research Ltd. wrote in a note yesterday. “Ctrip is making solid progress toward a one- stop travel service platform.”
The Hang Seng China Enterprises Index in Hong Kong climbed 0.2 percent to 10,647.35, after sinking 3.6 percent last week. The Shanghai Composite Index advanced 0.2 percent to 2,089.71, snapping a nine-day decline.
–Editors: Marie-France Han, Rita Nazareth
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