Buying rebounds while there were no sales by directors
BUYERS got back on track after posting a fall in their purchase activity for the first time in the past four weeks with 33 companies that recorded 61 purchases worth S$4.98 million. The figures are based on filings to the Singapore Exchange during the holiday-shortened week of Sept 7 to 10. The number of firms and value were up from the previous week's five-day totals of 29 companies and S$2.76 million while the number of purchases was not far off from the previous week's 68 acquisitions. The rebound in the buying was more pronounced as there were no sales by directors last week.
While buying by directors rose, buyback activity among listed firms was flat with 27 companies that posted 99 repurchases worth S$57.3 million. The number of firms and trades were consistent with the previous week's 30 companies and 122 transactions. Turnover, however, was sharply down from the previous week's buybacks worth S$92.8 million.
Despite the short trading week, there were several significant corporate shareholder purchases with the buying particularly high in the property sector and penny stocks. There were buybacks in CapitaLand, Del Monte Pacific and Wing Tai Holdings and insider buys in Sapphire Corporation, Hafary Holdings, Kori Holdings, Nordic Group, Geo Energy Resources, Cache Logistics Trust and IREIT Global.
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