SPY456.77-7.95 -1.71%
DIA353.30-5.84 -1.63%
IXIC14,596.63-297.13 -2.00%

BUZZ-China's Weimob set for best day in 3 weeks on plan to repurchase more shares

reuters.com · 12/29/2021 22:55
BUZZ-China's Weimob set for best day in 3 weeks on plan to repurchase more shares

** Shares of China's cloud-based commerce and marketing solutions provider, Weimob Inc WEMXF, rise as much as 6.5% to HK$7.24, their biggest percentage gain since Dec. 7

** Stock, biggest percentage gainer in the Hang Seng Tech Index .HSTECH, on course to snap two straight sessions of decline

** Shanghai-based Weimob says it repurchased 35.46 mln shares, or 1.4583% of the issued share capital, between Aug. 26 and Nov. 17, and will consider an appropriate opportunity to repurchase shares in the open market nFWN2TE06W

** Says the board is not aware of any change in the regulatory regime or in the business ecosystem which may result in material negative impact on its business prospects

** Says its operations remain normal and it has full confidence in its future development prospects

** The Hang Seng sub-index tracking information technology firms .HSCIIT rises 0.5%, and the Hang Seng Tech Index .HSTECH climbs 0.3%

** The Hang Seng China Enterprises Index .HSCE edges up 0.1 and the Hang Seng Index .HSI gains 0.2%

** As of last close, stock down 51.2% this year


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))