根据FactSet数据2025年前八个月亚洲企业股票回购规模达约2,660亿美元比2024年全年激增近70%。股票回购最活跃的市场包括日本和中国香港前者回购规模近1,100亿美元后者回购约1,050亿美元。 与美国企业大量依靠举债进行回购不同亚洲企业股票回购则更多地依靠企业不断增加的自由现金流(FCF)。换言之亚洲企业是真正在把超额现金返还给股东而非仅仅转交借款。
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