Shares of Chinese toymaker Pop Mart rallied nearly 10 per cent on Tuesday morning after the company announced its first share buy-back in nearly two years, following a decline from last year’s peak.
Pop Mart’s Hong Kong-listed shares rose to HK$198.70 as investors welcomed the move.
The stock remains below last year’s closing level of HK$200.20, and about 42 per cent off its August peak, suggesting softer momentum amid fierce competition and sluggish consumption.
The company repurchased 1.4…