China's tech stocks have fallen since last year on the back of regulatory crackdowns in China as well as U.S.-China tensions, among other factors.
explicitly encouraging listed companies to conduct share buybacks," analysts from the investment bank said. "The market definitely expected Tencent to announce a buyback. I think this was mainly because Alibaba had and the positive price reaction to it," said"[Tencent] did note their own stock price has dropped significantly too – which may be a sign that they would consider a buyback, so I don't think that possibility should be ruled out in its entirety," he added.
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