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The measures reflected the earnings pressure brought on by weak employment demand and the struggling property market, said Francis Kwok Sze-chi, vice-chairman of the Hong Kong Institute of Financial Analysts and Professional Commentators.
“You can’t expect a strong performance amid an economic downturn,” Kwok said, adding that “tangible offers” resonated more with small shareholders.
The market appeared to welcome the offers. On Shenzhen’s stock exchange, Emei Shan Tourism surged as much as 20 per cent and Qianweiyangchu rose 8.75 per cent, before gains narrowed on Wednesday.
Retail sales growth in the world’s second-largest economy slowed for the fifth consecutive month in October, rising 2.9 per cent year on year, the weakest since August 2024.
