Buying by company directors plunges
Selling side hits rock bottom by going below the average of one over the past 5 weeks
The buying by directors plunged with only 11 companies that recorded 25 purchases worth S$0.59 million based on filings on the Singapore Exchange (SGX) from June 6 to 10. The figures were sharply down from the previous week's 23 firms, 55 purchases and S$1.95 million. On the selling side, there were no sales by directors last week which was not surprising as the selling has been extremely low with an average of only one firm that recorded sales per week in the previous five weeks.
Meanwhile, the buyback activity remained high with 18 companies that posted 90 repurchases worth S$66.7 million. The figures were not far off from the previous week's 21 firms, 91 trades and S$63.1 million.
With the low insider activity, the bulk of the significant trades last week were buybacks with repurchases in Asiatravel.com Holdings, LH Group, Singapore Airlines Limited and SHS Holdings. On the directors' side, the managing director of Boustead Projects recorded his first buy since June 2015 following the steep fall in the stock price. On the institutional shareholders front, there were fund manager sales in Yongnam Holdings and Ezion Holdings.
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