BEIJING -- More listed companies decided to buy back shares to shore up investors' confidence amid the novel coronavirus outbreak.

From Jan 1 to Feb 20, a total of 81 listed companies on the A-share market have implemented stock buyback plans, according to data from financial information provider Choice.

Through repurchasing stocks, listed companies send the signal that they have abundant liquidity and confidence in future development amid the epidemic, Tan Yunhui, a securities analyst, told Securities Daily.

The buyback decision can also help a company increase profits, optimize capital and stabilize its stock price, said Tan.

A stock buyback, also known as a share repurchase, occurs when a company buys back its shares from the marketplace with its accumulated cash. A stock buyback is a way for a company to reinvest in itself.