Software group Vobile climbs to 13-month peak on share buyback plan

Vobile

02/10/2024 03:58

** Shares of Vobile Group Ltd  3738.HK  jump 24.8% to
HK$2.72, their highest levels since August 2023, and on course
for an eleventh consecutive session of gains
    ** Stock on track for the biggest one-day pct rise since Feb
19, if gains hold 
    ** Stock is second-biggest pct gainer in the index, tracking
information technology firms  .HSCIIT , which jumps 5%
    ** The Chinese software services developer and provider says
it intends to repurchase up to HK$200 mln ($25.74 mln) worth of
shares in the open market, in a move that reflects its
confidence in the business outlook and prospect
    ** Hang Seng Tech Index  .HSTECH  rises 6.6% and Hang Seng
Index  .HSI  climbs 4.2%
    ** Vobile stock down 9.5% YTD  
   ($1 = 7.7688 Hong Kong dollars)

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