Buying maintains pace, selling resurfaces after idle week

BUYERS were active for the third straight week while selling among directors rebounded after recording no sales in the previous week. A total of 24 companies recorded 39 purchases worth S$5.47 million versus two firms with three disposals worth S$3.3 million, based on Singapore Exchange filings in the second week of September. The number of companies and trades on the buying side were up from the previous week's 21 firms and 36 purchases. The buy valuewas sharply down from the previous week's purchases worth S$17.3 million.

Buyback activity remained high with 13 companies posting 42 repurchases worth S$10.96 million. The number of firms was unchanged while the number of trades and value were down from the previous week's 52 transactions worth S$13 million.

The bulk of the significant insider trades were purchases with acquisitions in Aspial Corp, Sim Lian Group, San Teh, Hong Fok, Neo Group and SunMoon Food. Among substantial shareholders, there were key buys in Tung Lok Restaurants and Sincap Group.