Heavy buying and no sales by directors

THERE were heavy purchases and no sales by directors based on filings on the Singapore Exchange (SGX) in the last week of July. A total of 19 companies recorded 30 purchases worth S$19.84 million which were sharply up from the previous week's 13 firms, 23 trades and S$11.74 million. On the negative side, the absence of sellers last week was not surprising as there was only one firm that recorded one disposal worth S$0.05 million in the previous week.

While the buying by directors surged last week, the buyback activity was flat for the second straight week with nine companies that posted 24 repurchases worth S$26.54 million. The figures were not far off from the previous week's nine firms, 27 trades and S$30 million.

There were several significant purchases last week with buybacks in DBS Group, Keppel Corporation and ST Engineering and insider buys in property plays Tee Land Limited, SPH Reit and Yanlord Land.