China's Yonghe Medical jumps most on record after share buyback plan

Yonghe Medical

26/10/2023 07:31

** Shares of Yonghe Medical Group  2279.HK  jump as much as
28.1% to HK$3.60, marking the biggest one-day rise since debut
in December 2021 
    ** Stock hits the highest since Oct 10; biggest pct gainer
in Hang Seng Composite Index  .HSCI  
    ** Beijing-based hair medical services provider says it
intends to repurchase shares in the open market to underscore
confidence in the company's development prospects
    ** Says, deal will be funded through internal cash
resources;  adds, its current finances and business are in good
condition
    ** Hong Kong's healthcare index  .HSCIH  falls 1.9%, Hang
Seng Composite Index  .HSCI  slips 0.3% and Hang Seng Index
 .HSI  eases 0.2%
    ** Stocks down ~72% YTD


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