MINISO's Hong Kong stock jumps most in 5 weeks on $100 mln share buyback plan

MINISO Holding

30/09/2022 03:30

** Hong Kong-listed shares of MINISO Group Holding Ltd
 9896.HK  jump as much as 7.2% to HK$9.50, their biggest daily
pct rise since Aug. 26, if gains hold
    ** Stock of the Guangdong-based home decor and pop toy
products retailer hit the highest since Sept. 23 and on track
for the second session of gain
    ** Miniso says its board has approved a program to
repurchase up to $100 mln worth of shares in the open market
over a 12-month period in a move to be funded by surplus cash on
its balance sheet  urn:newsml:reuters.com:*:nFWN3100MI
    ** Company also says its chairman Guofu Ye intends to use
his personal funds to buy back up to $5 mln worth of shares
within the next 12 months  urn:newsml:reuters.com:*:nFWN3101E5
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.3% and Hang Seng Consumption Index  .HSCGSI  drops 1.7%
    ** The Hang Seng Composite Index  .HSCI  eases 0.4% and the
Hang Seng Index  .HSI  slips 0.3%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))