🟢 1024.HK is trading 4.2% up today as Kuaishou buybacks offset Tencent’s $1.5B stake sale

1024.HK is trading 4.2% up today at $42.16 as investors digest a massive block trade by Tencent and Kuaishou’s aggressive share repurchase program.

• Tencent Mobility sold approximately 272.9 million Class B shares for roughly $1.5 billion, reducing its ownership stake from 15.68% to 9.37%.
• Market sentiment stabilized after Kuaishou repurchased 174.84 million shares as part of its HK$16 billion buyback initiative, helping to absorb the selling pressure from the block trade.