News Snapshot:
More and more Asian companies have announced share buybacks in recent weeks. Chinese internet giant Alibaba has said it will increase its share buyback program from $15 billion to $25 billion. The Invesco Golden Dragon China ETF, which tracks the Nasdaq Goldman Dragon China Index, plunged 20% to hit a new 52-week low. The index holds 65 companies whose common stocks are publicly traded in the U.S. and the majority of whose business is conducted within the People's Republic of China. Shares of Chinese companies listed in the U.S. dropped sharply Monday after Beijing tightened President Xi Jinping's grip on...
