China's Yidu Tech jumps most in 8 months on share buyback plan

Yidu Tech

29/02/2024 02:35

** Shares of Chinese medical big data solutions provider
Yidu Tech Inc  2158.HK  jump 11.6% to HK$4.22, on track for
biggest one-day pct rise since June 26 if current gains hold
    ** Stock hits the highest since Jan 12, third biggest pct
gainer in the Hang Seng Composite Index  .HSCI  
    ** Yidu, which has a current market value of $554.45 mln,
says it intends to repurchase shares in the market to reflect
its confidence in the firm's future development prospects in a
deal to be funded by internal cash resources
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.2%, Hang Seng Composite Index rises 0.6% and the Hang Seng
Index  .HSI  adds 0.3%
    ** Stock down 17.6% YTD 
($1 = 7.8276 Hong Kong dollars)

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