Streetbeat News

CITAF

Cosco Shipping Development Co Ltd

http://development.coscoshipping.com/

CEO

Daxiong Wang

Industry

Deep Sea Freight Transportation

Open

0.14

Mkt cap

3.7B

Volume

62K

High

0.14

P/E Ratio

5.86

52-wk high

0.16

Low

0.12

Div yield

0.02

52-wk low

0.09

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

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