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.

CK Hutchison Holdings Ltd., the Hong Kong-based conglomerate, agreed to sell control of a unit that operates ports near the Panama Canal after pressure from US President Donald Trump to limit Chinese interests in the region.

The deal puts U.S. firms in control of two ports that President Trump raised as a security concern because of their connection to China.