HK-listed Kingsoft jumps most in nearly 5 weeks on share buyback plan

Reuters2021-08-31

** Shares of online and mobile games developer Kingsoft Corp Ltd jump 6% to HK$30.10, their biggest intraday percentage gain since July 29

** Stock is the biggest percentage gainer in both the Hang Seng sub-index tracking information technology firms and the Hang Seng Tech Index

** The Beijing-based co says it will use a share repurchase mandate to buy back up to HK$1 bln ($128.44 mln) to reflect confidence in long-term growth ()

** The Hong Kong Hang Seng sub-index tracking information technology firms falls 1.9%, and the Hang Seng Tech Index slips 1.3%

** The Hang Seng China Enterprises Index and the benchmark index both ease 1.6%

** Stock down 43.2% this year, as of last close

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