Merrill Lynch parted from a Hong Kong broker.
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The U.S. brokerage house sold its 25% share and thus severed ties with one of Hong Kong’s major stock companies, Sun Hung Kai. The sale follows recent indications that Merrill Lynch would boost its global securities operations. Analysts said the action does not indicate a pullback from that commitment, but instead reflects the buildup of its own operation in Hong Kong.
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