June 19, 2019 / 4:48 AM / in a month

Nomura shares surge most since Nov 2016 on $1.4 billion buyback

TOKYO (Reuters) - Shares of Nomura Holdings Inc surged more than 10% on Wednesday after Japan’s top brokerage announced a $1.4 billion buyback a day earlier.

The unexpected announcement comes ahead of Nomura’s annual shareholder meeting on Monday and sent its shares up 10.5%, the most in more than 31 months.

Nomura said on Tuesday it would repurchase up to 150 billion yen ($1.38 billion) of its own stock in a program to run until the end of the current fiscal year to March-end.

Reporting by Kevin Buckland; Editing by Subhranshu Sahu

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