HK's Man Wah eyes best day in near 3 months on buying back more shares

Man Wah Holdings

02/08/2021 07:49

Aug 2 (Reuters) -    ** Shares of sofa maker Man Wah
Holdings Ltd  1999.HK  rise as much as 6.3% to HK$16.56, on
course for the biggest daily percentage gain since May 14
    ** Stock hits the highest since July 3, extending gains for
the fourth session
    ** Co says it bought back 1.77 mln shares in the open market
on July 30 for HK$27.1 mln ($3.49 mln) and it may make further
repurchase depending on market conditions  urn:newsml:reuters.com:*:nFWN2P602M
    ** Says its current cash flow from operational activities is
strong and healthy and the share repurchase reflects the board's
confidence in the company's prospects 
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  jumps 1.4%, and the Hang Seng Composite Index  .HSCI 
rises 1.1%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs
1.1%, and the benchmark index  .HSI  gains 0.9%
    ** The stock had fallen 7.4% this year as of last close


($1 = 7.7752 Hong Kong dollars)

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