In today’s briefing:
- Hong Kong Buybacks Weekly (May 5th): Aia, China Mengniu Dairy, ESR
- Upside Versus Downside Stocks
Hong Kong Buybacks Weekly (May 5th): Aia, China Mengniu Dairy, ESR
- We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 5th based on HKEx daily reports.
- In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), China Mengniu Dairy (2319 HK), Esr (1821 HK).
- In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Tencent (700 HK), Swire Pacific (19 HK).
Upside Versus Downside Stocks
- There is more upside in downside and more downside in upside stocks than expected.
- Stocks can be ranked by their upside and downside betas to the S&P 500
- Excess returns from upside stocks were negative, zero for downside stocks
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