Hong Kong-listed organizations are seizing the chance to get stocks in a single of the worst-performing stock markets in the planet. Regardless of other Asian markets experiencing gains, share buybacks in Hong Kong are skyrocketing as the market place falters.

According to Hang Seng Indexes Co., share buybacks in Hong Kong are anticipated to attain HK$92.9 billion ($11.9 billion), which is three.9 occasions larger than the typical of the previous 5 years. The total quantity of share repurchases has currently reached HK$73.five billion.

This trend builds upon the acquiring spree of final year, when corporate stock repurchases surged by 175% as the Hang Seng Index declined. In 2023, the benchmark has currently dropped about 9%, surpassing the declines observed in other main regional indexes worldwide.

Hang Seng Indexes Co. noted that this unusually higher level of buyback activity may well indicate that organizations think their listed shares are undervalued in Hong Kong.