BUZZ-COSCO Shipping, Sinopec rise on share buyback plans

Reuters10-21

** Shanghai shares of COSCO Shipping Holdings Co Ltd

jump 5.5% to 15.01 yuan, their highest since Oct. 14, and on track for second session of gain

** COSCO Shipping Holdings says it plans to buy back 1-2 bln yuan ($140.82-281.63 mln) worth of A-shares within six months

** COSCO Shipping Hong Kong-listed stock surges 5.5% to HK$12.34, highest sice Oct. 10

** More than 20 Chinese listed companies have announced plans to tap special central bank lending for share purchases, according to exchange filings, days after the People's Bank of China $(PBOC)$ kicked off the $42 bln funding scheme

** Firms including oil giant China Petroleum and Chemical Corp (Sinopec) and port operator China Merchants Port said in filings over the weekend that they had secured special loans from banks for share buybacks

** Sinopec's Shanghai shares rise as much as 2% and Hong Kong stock surges 2.3%

** China Merchants Port Group's Shenzhen shares jump 3.9%

** In China, the blue-chip CSI 300 Index and the Shanghai Composite Index both add 0.4%

** In Hong Kong, both Hang Seng Commerce & Industry Index

and Hang Seng Index slip 0.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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