Tencent, Alibaba and more: These firms are primed for buybacks and present opportunities, says Jefferies

Buybacks are gathering steam in Asia — and that's creating opportunity for investors, according to investment bank Jefferies. Announcements of big buyback programs in the region have been rising since 2021, "with a long runway ahead" given the trend's nascence, the firm's analysts wrote in an Oct. 25 research note. In the past 12 months alone, MSCI Asia-Pacific companies did buybacks worth $49 billion, most of which are in China, they added.

5x, the cheapest in the last 5 years , while more than 90% of the companies are net cash and generating 7% FCF yield while paying out only about 1.8% yield including dividends and buybacks," Jefferies' analysts wrote. Other Chinese companies that showed up on the screen include telecommunications operator China United Network Communications , pharmaceuticals company Yunnan Baiyao Group, natural gas company KunLun Energy and e-commerce player Vipshop Holdings .

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