China Market Update: Tencent Crowned The Stock Repurchase King
Electric vehicle (EV) and internet stocks had strong sessions, except for Trip.com, which fell -1%. Hong Kong’s most heavily traded stocks by value were Tencent, up +0.58%, Midea, up +7.85%, Alibaba, up +1.04% on a cloud computing deal with Indonesia’s GoTo, Meituan, up +1.66%, and AIA, up +0.46%.