BUZZ-China's Midea Group jumps on share buyback plan

Reuters
08 Apr
BUZZ-China's Midea Group jumps on share buyback plan

** Midea Group 0300.HK jumps 6.4% to HK$67.8; set for biggest one-day pct gain since March 18

** Shenzhen-listed stock 000333.HK rises 3.8% to 69.73 yuan; also on track for biggest one-day pct gain since March 18

** Chinese household appliances maker plans to buy back shares for up to 3 billion yuan ($409.4 million) in 12 months

** YTD, HK-listed stock down 15.6%, Shenzhen stock down 10.7%

($1 = 7.3284 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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