Buying by directors falls for third straight week

THE buying fell for the third straight week while the selling among directors was flat based on filings on the Singapore Exchange (SGX) in the third week of July. A total of nine companies recorded 15 purchases worth S$0.75 million versus two firms with five disposals worth S$0.96 million. The number of companies on the buying side was up from the previous week's eight firms but the number of purchases and value were down from the previous week's 17 acquisitions worth S$0.92 million. The sales, on the other hand, were consistent with the previous week's two companies, two disposals and S$1.24 million.

Aside from directors, the buyback activity fell for the third straight week with 14 companies that posted 51 repurchases worth S$13.7 million. The figures were down from the previous week's 18 firms, 55 trades and S$20.7 million.

There were several significant purchases last week with the bulk of the acquisitions made following the fall in share prices. There were buybacks in LHN Limited, Sin Heng Heavy Machinery, Hi-P International, Wilmar International and Goodland Group. Aside from the buybacks in Goodland Group, the company's CEO bought shares after the stock fell by 15 per cent.