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Nexteer Automotive touches 7-week high on share repurchase plan

By Reuters News

** Shares of Nexteer Automotive Group 1316.HK climb 2.6% to HK$4.73, their highest since September 24

** The motion control technology company says it plans to repurchase shares on-market for up to $60 million

** Company says the share repurchase programme reflects its confidence in underlying strength of business and its long-term prospects, while its strong liquidity position provides a sound foundation to support its business and future development

** YTD, stock down 27.9%, benchmark Hang Seng Index .HSI down 6%

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