Buying and buybacks continue to rise, selling down
BUYING rose for the third straight week with 22 companies recording 47 purchases worth S$5.7 million based on filings on the Singapore Exchange in the fourth week of November. The figures were up from the previous week's 18 firms, 38 purchases and S$1.61 million. Selling, on the other hand, fell with four companies recording six disposals worth S$0.60 million. The figures were down from the previous week's five firms, nine disposals and S$0.86 million.
Aside from directors, the buyback activity rose last week with 16 companies that posted 62 repurchases worth S$16.53 million. The figures were up from the previous week's 15 firms, 46 trades and S$9.08 million. Among the firms that recorded significant buybacks last week is SIA Engineering which repurchased shares for the first time since listing.
Several directors resumed buying shares last week at higher prices with purchases in United Overseas Bank, ISEC Healthcare, Mewah International and Zagro Asia. Not all directors bought shares at higher prices last week; insider buys in Pacific Radiance and Viva Industrial Trust were seen following the fall in their share prices. On the selling side, there were sales by two directors in Cityneon Holdings.
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