Yum China Holdings Inc. (YUMC) has announced a $360 million share buyback program, leading to a 2.1% rise in its premarket share price. The buyback reflects the company's confidence in its financial position and future prospects. Meanwhile, Alibaba Group (BABA) has been actively engaging in its share buyback program, spending $59.9 million to repurchase 711,500 American Depositary Receipts (ADRs) on a single day, accounting for 5.5% of the ADR's trading volume. Since August 2024, Alibaba has repurchased nearly 24.987 million shares, with authorization to buy up to 234 million shares. Additionally, there has been notable trading activity in leveraged China-focused ETFs, including YINN and CHAU, with significant bullish flows and unusual call buying. For YINN, over 35,000 December $33 calls were bought at prices ranging from $1.05 to $1.20, suggesting market optimism about potential China stimulus measures.