Tuhu surged 12.6% and plans to repurchase shares.

Chinese car maintenance service platform Tuhu surged 12.6% in midday trading on Monday. The company had previously announced that the board of directors has decided to repurchase the company's Class A common stock on the open market, and to provide funds to the trustee under the second phase of the share sale plan to purchase Class A shares, with a total amount not exceeding HK$1.5 billion. Tuhu has fallen 22.3% so far this year, while the Hang Seng Index has fallen 9.9% in the same period.