China records second largest stock buyback volume ever

Chinese listed companies have recorded the second highest share buyback volume ever this year, exceeding 150 billion yuan. This move aims to instill investor confidence amid declining stock markets. The leading company in buybacks is Midea, followed by tech firms like CATL and Zhongji Innolight. Despite these efforts, some companies, like Zhongji Innolight, have seen their stock prices fall significantly post-buyback. Following a poor October for the CSI 300 index, over 130 companies announced buyback plans totaling more than 4 billion dollars. The Chinese market has faced pressure due to investor concerns over AI investment profitability, with the CSI 300 index down 14% this year, contrasting with a rise in the S&P 500.