The China securities regulators says it encourages listed firsm to buy back more shares to inject more capital into the A-share market and make every effort to maintain stable market operations.
Alibaba reports earnings tomorrow and it has a large cash pile. Many investors would like it to step-up stock buybacks. This might be a tap on the shoulder from regulators that a big buyback would be appropriate. It certainly didn’t hurt META last week.
BABA shares
Update: The China Securities Regulatory Commission said it will continue to coordinate and guide public funds, private funds, securities companies, social security funds, insurance organizations, and other types of institutional investors to enter the market more vigorously, introducing more incremental funds for the A-share market, and making full efforts to maintain stable market operation.