These Hong Kong-Listed Companies Spent Over $10 Million Thursday Buying Back Their Own Shares
Portfolio Pulse from Daniel Harrison
38 companies repurchased a total of $105 million of their shares on the Hong Kong Stock Exchange. Yum China Holdings Inc. (NYSE:YUMC) and KE Holdings Inc (NYSE:BEKE) are scheduled to make stock and ADR purchases in the US trading session. Five companies spent over eight figures on buying back their shares, including AIA Group Limited (OTC:AAGIY), Dongfeng Motor Group Company Limited (OTC:DNFGF), Xiaomi Corporation (OTC:XIACF), and Tencent Holdings Limited (OTC:TCEHY).
October 05, 2023 | 7:56 pm
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NEUTRAL IMPACT
Dongfeng Motor Group Company Limited spent $14 million buying back its stock which ended the day down 0.33%.
Despite the company's stock buyback, its share price fell, indicating mixed market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Xiaomi Corporation scooped up $11 million of its H-listed shares as they dipped 1.5% by market close.
Despite the company's stock buyback, its share price fell, indicating mixed market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
AIA Group Limited repurchased $16.4 million of stock, lifting shares 0.8% for the day.
The company's stock buyback and the subsequent rise in its share price indicate a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
KE Holdings Inc is scheduled to make ADR purchases in the US trading session.
ADR purchases can lead to a rise in the stock price as they represent a company's confidence in its own stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Tencent Holdings Limited made $10.5 million in stock purchases as the company’s shares rose 0.7% during the trading session.
The company's stock buyback and the subsequent rise in its share price indicate a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Yum China Holdings Inc. is scheduled to make stock purchases in the US trading session.
Share buybacks often lead to a rise in the stock price as they reduce the number of shares in circulation, increasing earnings per share.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50