China's Autohome jumps most in 7 months on share repurchase plan

Autohome

05/09/2024 06:53

** Shares of China's online advertising and dealer
subscription services provider Autohome Inc  2518.HK  jump 7.4%
to HK$52, on track for their biggest one-day rise since Feb. 7
if trend holds
    ** Stock hits highest level since July 19
    ** Autohome, with current market value of $3.35 bln), says
it may repurchase up to $200 mln worth of shares, including
ADSs, over the next 12 months and it plans to fund repurchases
from existing cash balance
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.8% and Hang Seng Index  .HSI  slips 0.5%
    ** Stock down 10.2% YTD  


($1 = 7.7940 Hong Kong dollars)

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