Hong Kong-listed Shimao Services jumps on share buyback plan

Shimao Services Holdings

28/12/2021 03:06

** Shares of Shimao Services Holdings Ltd  0873.HK  rise 
6.6% to HK$6.13, their highest since Dec. 14, and on course for
a third straight session of gain
    ** Stock set for the biggest daily percentage gain since
Dec. 21; third biggest percentage gainer in the Hang Seng
Composite Index on properties and construction stocks  .HSCIPC  
    ** Co, property management service unit of Shimao Group
Holdings  0813.HK , says it will consider repurchasing shares
and will not place any new shares in market in next six months
 urn:newsml:reuters.com:*:nFWN2T9068
    ** Co says it is operating steadily and will not conduct any
major assets disposal or acquisition with parent company in next
six months 
    ** Stock of Shimao Group rises 6% to HK$5.51, on track for
biggest daily percentage gain since Nov. 10
    ** However, Shanghai Shimao  600823.SS , a subsidiary of
Shimao Group, slips 1.5% after saying it is difficult to meet
its annual sales target of 38 bln yuan ($5.96 bln)  urn:newsml:reuters.com:*:nL4T2TC1DS
    ** The Hang Seng Mainland Properties Index  .HSMPI  and the
Hang Seng Composite Index on properties and construction stocks
both rise 1.5%
    ** The Hang Seng China Enterprises Index  .HSCE  eases 0.2%
while the benchmark index  .HSI  climbs 0.1%
($1 = 6.3720 Chinese yuan)

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