HK-listed Ascletis Pharma jumps most in over 4 months on share buyback plan

Ascletis Pharma

06/10/2021 03:49

** Shares of biological products developer Ascletis Pharma
Inc  1672.HK  jump as much as 10.6% to HK$2.82, marking their
biggest intraday pct rise since May 27
    ** Stock hits the highest level since Sept. 16, up for a
second straight session; among the 30 biggest percentage gainers
on the Hong Kong bourse
    ** Zhejiang, China-based co says https://bit.ly/3oAGcpT it
has decided to utilise up to HK$200 mln ($25.6 mln) in funds to
repurchase shares on the open market at appropriate timing 
    ** Says its financial position is solid and healthy and the
repurchase of shares reflects its confidence in its long-term
business prospects and growth potential 
    ** Hong Kong's healthcare index  .HSCIH  falls 2.5%, and the
Hang Seng Composite Index  .HSCI  eases 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  slips 1.3%
and the benchmark index  .HSI  is down 0.9%
    ** As of last close, the stock had fallen 11.2% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))