China Vanke-backed Onewo jumps 10% on plan to buy back shares

Onewo

05/06/2024 03:40

** Shares of property management services provider Onewo Inc
 2602.HK  jump 10% to HK$26.45, on track for their biggest
one-day pct gain since May 2
    ** Stock of China Vanke  2202.HK -backed Onewo touches the
highest since May 24, on course for a third straight session of
rise
    ** Onewo says it intends to repurchase shares in the open
market for up to HK$5.8 bln ($742.8 mln) to demonstrate its
confidence in the development and prospects of its business 
    ** China Vanke's Hong Kong shares slip 0.7%, Shenzhen stock
 000002.SZ  down 2.3% 
    ** The Hang Seng Mainland Properties Index  .HSMPI  climbs
0.1%, the Hang Seng Composite Index  .HSCI  adds 1% and the Hang
Seng Index  .HSI  rises 1.2%
    ** Onewo stock up 5.6% YTD  
($1 = 7.8086 Hong Kong dollars)

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