Repurchase signals management’s confidence and healthy balance sheet, analysts say, though stock remains 42 per cent below last year’s peak.

Shares of Chinese toymaker Pop Mart rallied nearly 10 per cent on Tuesday morning after the company announced its first share buy-back in nearly two years, following a decline from last year’s peak. Pop Mart’s Hong Kong-listed shares rose to HK$198.70 as investors welcomed the move. The stock remains below last year’s closing level of HK$200.20, and about 42 per cent off its August peak, suggesting softer momentum amid fierce competition and sluggish consumption. The company repurchased 1.4…

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