Buying bounces back, buybacks plunge

THE buying rebounded while the selling among directors remained low based on filings on Singapore Exchange during the holiday-shortened Jan 27-30 week. Buyers outnumbered sellers with 11 companies that recorded 21 purchases worth $3.7 million versus a paltry two firms with five disposals worth $350,000.

The number of companies and trades on the buying side were not far off from the previous week's five-day totals of nine firms and 23 acquisitions. The buy value, however, was sharply down from the previous week's purchases worth $7.86 million. The sales, on the other hand, were consistent with the previous week's low totals of four companies, nine disposals, and $590,000.

While the buying by directors rebounded last week, the buyback activity plunged with only three firms that posted five repurchases worth $1.83 million. The figures were sharply down from the previous week's seven companies, 18 trades and $8.08 million.