China Vanke-backed Onewo climbs on plan to buy back H shares

About this update from Onewo, Inc. Class H

** Shares of Onewo Inc HKEX:2602 climb 1.7% to HK$20.16, on course for the biggest one-day pct gain since Nov. 24** China Vanke-backed property management services provider said it plans to repurchase up to 500 mln yuan ($70.73 mln) worth of H shares in the open market, in a bid to demonstrate confidence in its business development and prospects ** The share repurchase will be funded by the company's own financial resources while its current financial resources will enable it to implement the share repurchase while maintaining a sound financial position - co** China Vanke's Hong Kong stock adds 1.7% while Shenzhen shares SZSE:000002 down 0.8%** YTD, Onewo stock up 0.3%, Hang Seng Mainland Properties Index HSI:HSMPI up 13.5%($1 = 7.0691 Chinese yuan renminbi)

View stock analysis, news, and events for Onewo, Inc. Class H