BUZZ-China auto service group TUHU jumps most in 9 weeks on share buyback plan

Reuters06-25

** Shares of Chinese online and offline automotive service platforms operator TUHU Car Inc jump 6% to HK$24, their biggest one-day pct gain since April 26

** Stock touches the highest since June 18, and on course for a third straight session of gains, if current trend holds

** Co, with current market valuation of HK$18.6 bln ($2.4 bln), says it intends to conduct share repurchase in the open market in a move to demonstrate its confidence in its own business outlook and prospects

** Co says it has utilised over HK$204 mln for the share repurchase from March 18 to April 22 and all shares repurchased were subsequently cancelled on June 3

** Hang Seng Tech Index slips 0.4%, while Hang Seng Commerce & Industry Index gains 0.4% and Hang Seng Index adds 0.3%

** Stock down 18.3% YTD

($1 = 7.8068 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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