** Shares of short video apps operator Kuaishou Technology
climb 1%, outpacing a 0.6% drop in Hang Seng Tech Index
** Kuaishou says it has entered a contract with Morgan Stanley & Co. International for the repurchase of the company's class B ordinary shares for up to HK$2.5 bln ($320.7 mln)
** Says the move is part of its HK$4 bln on-market share repurchase plan announced in May, in a bid to demonstrate its confidence in its business outlook and prospects
** Hang Seng Composite Index and Hang Seng Index
both ease 0.7%
** Stock down 22.7% YTD
($1 = 7.7951 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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