Tencent rebounds 4% in Hong Kong after repurchasing shares for 25 consecutive trading days

 

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Shares of Tencent Holdings rebound more than 4% on Monday to hit HK$286.8 at one point.

Tencent spent about HK$352 million repurchasing 1.27 million shares on Friday, at prices of HK$275 – HK$281.2, according to a filing to the Hong Kong Stock Exchange.

Since August 19, the company had spent HK$8.794 billion buying back a total of 28.59 million shares in 25 consecutive trading days. Since June 28, the tech giant has spent HK$12.056 billion repurchasing a total of 37.69 million shares.

In addition, mainland investors bought a net HK$6.84 billion worth of Tencent stocks via the Mainland – Hong Kong Stock Connect scheme in the past 21 consecutive trading days.