New statements from 2 of China’s top 4 banks indicate a recent share buyback by their state-owned controlling stakeholder is done, raising the question of just how effective the program was and whether we might see more similar buybacks soon. Based on my own quick analysis, the program does seem have had some limited positive effect, with Shanghai-listed shares of both ICBC (HKEx: 1398; Shanghai: 601398) and Agricultural Bank of China (HKEx: 1288; Shanghai: 601288) outperforming the market over the last 6 months during the program period. Read Full Post…
