Auto dealer China Yongda hits lowest in over 6 months after buyback

** Shares of passenger vehicle distributor China Yongda Automobiles Services Holdings Ltd fall 5.9% to HK$11.08, their lowest since March 10

** Stock on course for a third straight session of losses

** Stock set for the biggest daily percentage decline since Aug 20

** The Shanghai-based passenger vehicle services group says it has repurchased 2 mln shares in the open market for an aggregate HK$23.7 mln ($3.1 mln) on Sept 13 and Sept 14 ()()

** Says it may repurchase more shares depending on market conditions

** Citi says it has "buy" ratings on luxury car dealers including Yongda, but sees key risks from its progress or setbacks in the development of its car rental and auto finance businesses as well as higher-than-expected impact from COVID-19

** Shares of rivals Zhongsheng Group fall 1.4% and China MeiDong Auto slips 0.2%

** The Hong Kong Hang Seng consumer goods and services index falls 1.7% and the Hang Seng Composite Index drops 1.4%

** The Hang Seng China Enterprises Index declines 1.1%, and the benchmark index is down 1.4%

** Stock of China Yongda down 8.1% this year, as of last close