BUZZ-WuXi AppTec's stock at 14-month peak on cash dividend, share buyback plan

Reuters03-18

** Hong Kong-listed shares of WuXi AppTec Co Ltd 2359.HK jump as much as 16.1% to HK$76, their highest point since January 26, 2024

** Stock on course for a third consecutive session of gains, if current trend holds

** Stock marks biggest intraday pct gain since October 2, 2024, and is top pct gainer in Hang Seng Index .HSI, which rises 1.4%

** WuXi AppTec's Shanghai shares 603259.SS jump 10% to 70.43 yuan, their highest levels since January 26, 2024

** The Chinese new drug developer and maker, which posted a 1.6% y/y slip in 2024 net profit, declared a cash dividend of 9.8169 yuan per every 10 shares held

** Co also plans to buy back 1 billion yuan ($138.3 million) worth of A-shares in 12 months

** The Hang Seng Commerce & Industry Index .HSNC climbs 1.8%, healthcare index .HSCIH rises 1.9%

** YTD, Hong Kong stock up 28.9%, Shanghai shares up 28%

($1 = 7.2324 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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