China's Zhongsheng jumps on share buyback, stake hikes by shareholders

Zhongsheng group

09/09/2022 08:56

** Shares of automobile distributor Zhongsheng Group
Holdings Ltd  0881.HK  jump as much as 5.9% to HK$36.15 - set to
mark biggest daily pct rise since May 31 if gains hold 
    ** Stock on course to snap four straight sessions of
decline; fourth biggest pct gainer in the Hang Seng Commerce &
Industry Index  .HSNC  
    ** Liaoning, China-based co says it repurchased 341,000
shares for HK$11.7 mln ($1.49 mln) on Sept. 8  urn:newsml:reuters.com:*:nFWN30F1EI
    ** Says its controlling shareholders also bought 433,000
shares at an average price of HK$34.28 apiece on Sept. 8
 urn:newsml:reuters.com:*:nFWN30F1EF
    ** The Hang Seng Commerce & Industry Index jumps 3.1%, while
the Hang Seng consumer goods and services index  .HSCGSI  rises
2.7% and the Hang Seng Index  .HSI  surges 2.9%
    ** As of last close, stock had fallen 43.8% this year
($1 = 7.8482 Hong Kong dollars)

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