KUAISHOU-W Spikes ~5% as It Plans to Commence $6B Shr Buyback

　　KUAISHOU-W (01024.HK) +1.950 (+4.262%) Short selling $170.03M; Ratio 23.298% drifted higher after midday, peaking at $47.95. It last posted at $47.9, up 4.7%, with 19.9732 million shares traded, involving $938 million.

　　The company had entered into an agreement yesterday (8th) to repurchase up to $6 billion of the company's Class B ordinary shares on the Stock Exchange of Hong Kong through Morgan Stanley until 30 May 2025, or when the total repurchase amount is completed. It is part of the companys plan to implement its $16 billion share repurchase as disclosed in May 2024.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-09 12:25.)

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