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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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
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