Hong Kong's New World Development jumps most in 26 years after CEO resigns
** Shares of property developer New World Development 0017.HK jump 20.9% to HK$9.9, on track for biggest one-day pct rise since January 1998, after the resignation of CEO Adrian Cheng
** Stock hits the highest since May 23, top pct gainer in the Hang Seng Index .HSI and Hang Seng Property Index .HSNP, which rise 2.4 and 2.5%, respectively
** Shares were suspended from trading on Thursday, pending the release of the management changes
** Adrian Cheng, the third-generation scion of the firm's founding family, has resigned and will be replaced by its chief operating officer, New World said
** Co reported a net loss of HK$19.7 bln ($2.53 bln) for the financial year ended June
** New World said it was in talks to offload its entire stake in a multi-purpose sports venue, Kai Tak Sports Park, in Hong Kong to the conglomerate's parent, Chow Tai Fook Enterprises
** The Hang Seng Commerce & Industry Index .HSNC jumps 3.2% and the Hang Seng Mainland Properties Index .HSMPI surges 2.8%
** Shares of New World down 19.1% YTD
Reporting by Donny Kwok
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