China Overseas's stock surged 5.06% during intraday trading on Wednesday, marking a significant upward movement for the real estate developer.

The sharp rise follows the company's board authorization to repurchase up to 10% of its issued share capital, a move intended to enhance shareholder returns and optimize its capital structure. Additionally, the company demonstrated its strong financial position with the successful completion of a scheduled coupon payment on a bond carrying a notably low interest rate of 1.80%, highlighting its financing cost advantage.

The positive sentiment extended across the broader Real Estate Development sector, with several major peers also trading higher during the session, contributing to the overall bullish momentum for China Overseas.