HK-listed Kuaishou rises most in 9 weeks on buyback program

Kuaishou Technology

09/07/2024 05:27

** Shares of Chinese content community and social media
platform operator Kuaishou Technology  1024.HK  rise 3.9% to
HK$47.55, their biggest intraday pct rise since May 3
    ** Stock hits the highest level since July 4 on the second
session of gain; fifth biggest pct gainer on Hang Seng Tech
Index  .HSTECH  
    ** Kuaishou says it entered into a share repurchase contract
with an independent broker Morgan Stanley & Co. International
for the repurchase of the company shares on the Hong Kong bourse
for up to HK$6 bln ($768.13 mln) 
    ** Hang Seng Tech Index  .HSTECH  gains 0.1% while Hang Seng
Index  .HSI  slips 0.5%
    ** Stock down 11% YTD  


($1 = 7.8112 Hong Kong dollars)

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