More Chinese companies vow share buybacks as market sags further ...Middle East

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People cross a street during morning rush hour in front of the skyline of the central business district (CBD) in Beijing, China December 15, 2020. REUTERS/Thomas Peter/ File Photo Acquire Licensing Rights SHANGHAI, Oct 17 (Reuters) – Dozens of China-listed companies announced plans on late Monday to buy back shares or scrap plans of stock selling, following a slew of measures authorities took to boost a flagging stock market. This follows more than a hundred Chinese companies committing to buybacks or withdrawing share sales in August after China imposed new rules as part of measures to shore up a sinking stock market as the country’s post-COVID-19 recovery lost momentum. Its blue-

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