Buying activity up sharply for second straight week

BUYING rose for the second straight week with 28 companies that recorded 51 purchases worth S$2.31 million based on filings on the Singapore Exchange in the third week of August. The figures were sharply up from the previous week's four-day totals of six firms, nine purchases and S$1.07 million. The sales, on the other hand, fell with only three companies recording five disposals worth S$0.76 million. The figures were not far off from the previous week's three firms, five disposals and S$0.52 million.

Meanwhile, buyback activity rose for the first time in the past seven weeks with 17 companies that posted 49 repurchases worth S$14.44 million. The figures were sharply up from the previous week's 12 firms, 24 trades and S$3.78 million.

In last week's surge in buying, the bulk of the significant trades were buybacks in Super Group and Valuetronics Holdings and insider buys in Amara Holdings, Secura Group and Centurion Corporation. Lastly, there were multiple director purchases in Avi-Tech Electronics, Chiwayland International and Pacific Radiance. The buybacks and purchases by directors in these companies were made following the release of earnings results.