BUZZ-China Hongqiao jumps most in 8 weeks as key shareholder raises stake

Reuters06-18

** Shares of aluminium products manufacturer China Hongqiao Group Ltd jump 4.9% to HK$12.38, on course for the biggest one-day pct gain since April 24

** Stock third-biggest gainer in Hong Kong's material index

and Hang Seng Index

** China Hongqiao says its controlling shareholder has purchased a total of 6.65 mln shares in the open market on June 17 at an average price of HK$11.76 per share, raising its stake in the company to 64.27% from 64.20%

** Co says the increase in shareholding reflects controlling shareholder's confidence in the company's prospects and long-term growth and it would further increase its shareholding in the company

** Hong Kong's material index and Hang Seng Composite Index both slip 0.2% while Hang Seng Index

eases 0.4%

** Stock up 90.9% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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