Chinese companies engaging in share buybacks and increased dividends have driven a rally in China's stock market. Despite significant gains in the HS Tech Index and property stocks, recent retreats suggest the rally may have been tactical. Goldman Sachs advises buying the dip after the rally stalls, while Morgan Stanley Investment Management becomes less bearish on Chinese stocks due to buybacks. However, China's tech stocks are now facing a potential technical correction, indicating a shift in market sentiment.