BUZZ-China Vanke-backed Onewo jumps 10% on plan to buy back shares

Reuters06-05

** Shares of property management services provider Onewo Inc

jump 10% to HK$26.45, on track for their biggest one-day pct gain since May 2

** Stock of China Vanke -backed Onewo touches the highest since May 24, on course for a third straight session of rise

** Onewo says it intends to repurchase shares in the open market for up to HK$5.8 bln ($742.8 mln) to demonstrate its confidence in the development and prospects of its business

** China Vanke's Hong Kong shares slip 0.7%, Shenzhen stock

down 2.3%

** The Hang Seng Mainland Properties Index climbs 0.1%, the Hang Seng Composite Index adds 1% and the Hang Seng Index rises 1.2%

** Onewo stock up 5.6% YTD ($1 = 7.8086 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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