HK Stock Market Move | BILIBILI-W (09626) rose more than 3% in the morning, and Morgan Stanley expects the company's $300 million share buyback plan to have a positive impact on the stock price.

BILIBILI-W (09626) rose more than 3% in the morning session and, as of the time of writing, was up 2.93% to 129.8 Hong Kong dollars, with a trading volume of 317 million Hong Kong dollars. On the news front, on June 24th, BILIBILI-W issued an announcement that its board of directors has authorized a new share buyback plan. According to this plan, the company may repurchase up to 3 billion US dollars worth of shares (including its Z class common shares and/or American Depositary Shares) within the next 24 months, effective from the date of the announcement. Morgan Stanley released a research report stating that they expect the share buyback plan to have a positive impact on BILIBILI-W's stock price. The report indicates that the company's stock price is likely to increase in absolute terms in the next 30 days, with an estimated probability of over 80% (or "highly likely"). This is mainly due to the company announcing a new share buyback plan to repurchase up to 3 billion US dollars worth of shares within the next 24 months, representing approximately 4.5% of its market value, which will be carried out through open market purchases, block trades, or other permitted methods.