Sinotrans ++

Shares of Sinotrans Ltd (0598.HK)

gained 2.37 percent

to HK$3.89

after it said its wholly owned unit would sell all its 50 percent stake in air freight forwarding joint venture Exel-Sinotrans Freight Forwarding Co Ltd to DHL Excel Supply Chain (Hong Kong) Ltd for HK$696.9 million (US$89.3 million).

DHL Excel already owns 50 percent of the venture firm.