大手笔回购！港股市场前景被看好

Core Viewpoint - The Hong Kong stock market has entered a new wave of share buybacks since April 2023, with many companies restarting or increasing their buyback activities, attracting market attention [1][2]. Group 1: Buyback Trends - In April 2023, the number of companies conducting buybacks reached 127, the highest since Q4 2024, with a total buyback amount of 13 billion HKD [2]. - In May 2023, the number of companies decreased to 91, but the total buyback amount increased to 17 billion HKD, surpassing April's figures and marking a new high since February [2]. - By June 2023, over 50 companies had already conducted buybacks within a few trading days [2]. Group 2: Leading Companies in Buybacks - Tencent Holdings resumed buybacks on May 19, 2023, after a pause of over a month, with daily buyback amounts around 500 million HKD [3]. - Meituan restarted its buyback on May 27, 2023, after an 8-month hiatus, repurchasing 3.0187 million shares for 392 million HKD [3]. - Kuaishou resumed buybacks on May 28, 2023, after a pause, buying back 1.469 million shares for 75 million HKD, and continued with a significant buyback of 6 million shares for 312 million HKD on June 2 [3]. - Bilibili conducted its first buyback since going public in Hong Kong on May 21, 2023, repurchasing 5.5881 million shares for 783 million HKD [3]. Group 3: Increased Buyback Activity - AIA Group significantly increased its buyback activity starting May 28, 2023, with daily buybacks exceeding 5 million shares and 300 million HKD, a notable rise from previous levels [4]. - HSBC Holdings also increased its buyback amounts, frequently exceeding 300 million HKD in recent transactions [4]. Group 4: Market Conditions Supporting Buybacks - Analysts suggest that the recent buyback wave is supported by the valuation advantages in the Hong Kong market, following significant price declines in early April 2023, where many leading stocks fell over 10% [5]. - The recovery of the Hong Kong market post "equal tariff" shock has been steady, with risk premiums significantly decreasing, providing a favorable environment for buybacks [5][6]. - Continuous net buying from southbound funds has also provided strong support for the Hong Kong market, stabilizing market fluctuations [6].