China's Simcere Pharmaceutical jumps most in 5 months on share buyback plan

Simcere Pharmaceutical

27/06/2023 07:17

** Shares of China's Simcere Pharmaceutical Group Ltd
 2096.HK  jump as much as 8.3% to HK$7.59; on course for the
biggest one-day pct rise since Jan. 13, if gains hold
    ** Stock hits the highest since June 20, extending gains for
the second straight session
    ** Jiangsu-based generic drugs producer says it will
repurchase shares in the open market for up to 500 mln yuan
($69.33 mln) in a move to demonstrate its confidence in its own
business outlook and prospects 
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
2.1% and the healthcare index  .HSCIH  gains 0.4%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both add 2%%
    ** As of last close, the stock is down 39.7% this year


($1 = 7.2114 Chinese yuan renminbi)

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