Update: Chinese Companies Try to Calm Markets With Share Buybacks

* About 50 Chinese companies announce stock buybacks in a bid to stabilize their share prices after Thursday’s sell-off

* Some state media have already begun to call on Beijing to intervene more actively to stabilize the markets

(Beijing) — Dozens of Chinese companies have launched stock buyback programs to stabilize their shares, following the worst drops in more than two years on the country’s two main stock markets.