No. of Recommendations: 15
In case anybody is interested, the recent buybacks have not shown any particular "buy on dips" action.
There were noticeable ranges of share price in both May and especially June, but the average A-share buyback price in each month was very close to the average market price during the respective month. Though I don't think it's what they're doing, it is very close to the result you'd get by doing a VWAP (volume weighted average price) order for two months.
Again, I don't think it's what they'd do, but it also "looks like" VWAP in that the great bulk of the buybacks were B shares in dollar terms. 94% in May, 92% in June.
Jim
