HK-listed China New Higher Education jumps on share buyback plan

China New Higher Education

29/10/2021 06:17

** Shares of China New Higher Education Group Ltd  2001.HK 
jump 5.1% to HK$3.91, on course to snap eight consecutive
sessions of losses
    ** Stock set for the biggest daily percentage gain since Oct
15
    ** The Beijing-based education group plans to repurchase
shares in the open market for up to HK$300 mln ($38.6 mln) to
demonstrate its confidence in its business development of its
own business  urn:newsml:reuters.com:*:nFWN2RO1L3
    ** Says it believes the company's current financial
resources would enable it to implement the share repurchase
while maintaining a solid financial position
    ** The Hang Seng Composite Index tracking industrials
 .HSCIIG  gains 0.2%, while the Hang Seng Composite Index
 .HSCI  slips 0.3%
    ** The Hang Seng China Enterprises Index  .HSCE  and the
benchmark index  .HSI  both slide 0.5%
    ** Stock down 22.8% this year, as of last close 

    ($1 = 7.7752 Hong Kong dollars)

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