State-Owned Companies Buy Back Shares to Boost Investor Confidence

About 50 Chinese state-owned companies are trying to bolster investor confidence by rolling out share buybacks or plans by big stockholders to expand their holdings after a series of other measures to prop up the stock market fell short.

China’s benchmark CSI 300 Index has dropped more than 6% this year, despite supportive government policies that included halving the stamp duty on stock trades and lowering the minimum ratio for stock purchases through margin financing in August. The index gained 0.35% Tuesday.