China's Ming Yuan Cloud set for best day in over 4 months as executives raise stake

Ming Yuan Cloud group

07/12/2021 03:59

** Shares of cloud computing service provider Ming Yuan
Cloud Group Holdings Ltd  0909.HK  jump 10.9% to HK$21.30,
heading for their biggest daily percentage gain since July 29
    ** Stock up after two straight sessions of decline,
second-biggest percentage gainer in the Hang Seng Tech Index
 .HSTECH  and sixth-biggest in the Hang Seng Composite Index
 .HSCI 
    ** Guangdong, China-based co says Chairman Gao Yu and
executive director Chen Xiaohui had raised stake, buying an
aggregate 900,000 shares at an average price of HK$19.40 each in
the open market on Dec. 6  urn:newsml:reuters.com:*:nFWN2SR0TM
    ** Says the stake increase is a vote of confidence in the
company's development prospects and growth potential
    ** Adds Gao and Chen may further increase their shareholding
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  jumps 3% and the Hang Seng Tech Index  .HSTECH 
surges 2.1%
    ** The Hang Seng Composite Index  .HSCI  rises 1.5% and the
benchmark Hang Seng Index  .HSI  gains 1.4%
    ** The stock had dropped 59.8% this year, as of last close 

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