Hongkong Land Holdings surged as much as 9.76% thus far today, following news that it plans to spend up to US$500 million in share buy backs.

As at 9.43 am, the shares hit US$4.61, from yesterday's close of US$4.20.

Especially so among other real estate firms, Hongkong Land's share price has been persistently trading at less than a third of its NAV.

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