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After touching near a five-month low, Tencent's stock rebounded by more than 1%, repurchasing about 1.5 billion Hong Kong dollars of shares for two consecutive days.
The Tencent Holdings (00700.HK) rebounded in the morning on Thursday after a continuous downward movement, with the help of stock buybacks, rising more than 2% after briefly touching a near five-month low. Prior to this, the stock had fallen for six consecutive trading days. On the news front, Tencent announced that it repurchased 4.05 million shares on January 8, costing about 1.5 billion Hong Kong dollars, marking the second consecutive day of repurchasing about 1.5 billion Hong Kong dollars.