Apr 01, 2022

Asian Buyback Wave Is Similar to U.S., Verity’s Ben Silverman Tells CNBC

Buybacks BABA XIACF

Major Chinese companies have increased stock buybacks.

  • Tech giant Alibaba (BABA) announced it would increase buybacks from $15 billion to $25 billion.
  • Phone maker Xiaomi (XIACF) announced a buyback of up to $1.28 billion USD.
  • JD’s online healthcare arm (JDIF) said it would buy back shares of up to $385,000 USD.

What does it mean? Ben Silverman, VerityData Director of Research, spoke with CNBC about the acceleration of buybacks.

“Chinese companies are behaving similarly to their American counterparts by announcing large stock buyback programs on weakness in an effort to shore up investor confidence as their business growth slows,” Silverman said.

For more insights and analysis, read our Stock Buyback Trend Report >>

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