Director acquisitions soar as earnings season wraps up

FOR the five sessions ended March 8, the Straits Times Index (STI) declined 1 per cent compared to an average 0.9 per cent decline for the benchmarks of Japan, Hong Kong, Australia and the United States. In SGD total returns terms, the STI has been the best 2018 performer (through to March 8) of the benchmarks, gaining 2.4 per cent compared to their average decline of 0.8 per cent.

Share buybacks for the five sessions encompassing March 2 to 8 continued the previous week's momentum with 16 stocks buying back a total consideration of S$53.6 million. For a second consecutive week, CapitaLand led the buyback consideration tally, buying back 6.1 million shares for a sum of S$21.9 million.

Over the five sessions, almost 70 SGX primary-listed stocks lodged 170 changes in director interests or substantial shareholders. There were 43 director acquisitions and five disposals filed, with substantial shareholders filing 19 acquisitions and 17 disposals.