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Analysts at Bank of America named Asian stocks with high buybacks, which they said are an opportunity for investors. Companies buy shares back from investors for a variety of reasons, and BofA has tracked buybacks in Asian stocks over more than three decades. “Data since Jan-90 shows Asia stocks with High Share Buybacks tend to outperform,” the analysts wrote in an August 31 research note. “The proportion of Asia stocks buying back shares is at a 20-year high, suggesting increased opportunity for investors,” said the analysts led by Nigel Tupper. China stocks On a list of the “Top thirty stocks with the highest proportion of Buy-Backs as a percent of market cap,” BofA included Chinese internet giant Alibaba , electronics manufacturer Haier Smart Home and auto manufacturer Great Wall Motor . Other Chinese stocks on BofA’s list include semiconductor supplier Daqo New Energy and utilities firm Huaneng Power . South Korea, Australia and beyond In South Korea, the bank identified grocery companies CJ Cheil and E-Mart, while in Taiwan, stocks on BoA’s list included liquid crystal display company Innolux and computer components manufacturer Catcher Tech . Australian stocks on BofA’s list included banks Westpac and National Australia Bank . It also chose retailer Woolworths and pallet manufacturer Brambles , with the latter also on BofA’s screen of stocks with exposure to the U.S. “At a time when the China economy has softened and the US economy has remained resilient, Asia stocks with revenue exposure to the US have benefitted,” the analysts stated. Singaporean industrials company Keppel Corp also made BofA’s list, as well as Hong Kong real estate firms HK Land and Swire Pacific — which is also on the bank’s list of stocks that generate revenue in the U.S.
Asian buybacks just hit a 20-year high — and these stocks are a buying opportunity
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