China's Ming Yuan Cloud eyes best day in a month on share buyback plan

Ming Yuan Cloud group

06/01/2022 04:58

** Shares of cloud computing service provider Ming Yuan
Cloud Group Holdings Ltd  0909.HK  jump 6.6% to HK$16.16, on
track for their biggest daily percentage gain since Dec. 7
    ** Stock on course to snap three straight sessions of
losses; the biggest percentage gainer in both Hang Seng
Composite Index  .HSCI  and Hang Seng Tech Index  .HSTECH  
    ** Guangdong, China-based co says it may repurchase shares
in open market for up to $100 mln to reflects the board and the
management's confidence in co's business development prospects
 urn:newsml:reuters.com:*:nFWN2TL03Z
    ** Says current trading price of its shares does not reflect
their intrinsic value and co's current financial resources would
enable it to implement the share repurchase while maintaining a
solid financial position
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  gains 0.3%, while the Hang Seng Tech Index slips
0.6%
    ** The Hang Seng Composite Index eases 0.7% and the
benchmark Hang Seng Index  .HSI  down 0.4%
    
    

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