Buying by directors surges
THE buying surged while the selling among directors remained high based on filings on Singapore Exchange (SGX) during the holiday-shortened week of Oct 14-18. A total of 11 companies recorded 27 purchases worth $6.8 million versus five firms with 17 disposals worth $12.64 million. The number of trades and value on the buying side were up from the previous week's five-day totals of 24 purchases and $3.69 million. On the selling side, the number of trades was down from the previous week's 24 disposals but the value was up from the previous week's sales worth $9.6 million.
While the buying by directors rose last week, the buyback activity among listed firms plunged with only seven firms that posted 16 repurchases worth $1.5 million. The figures were sharply down from the previous week's 11 companies, 26 trades, and $14.2 million.
There were several significant buyback and director trades last week. On the buybacks side, Global Invacom Group bought back for the first time after the stock rebounded by 25 per cent. On the flip side, Chasen Holdings, along with an executive director, bought shares after the stock plunged by 65 per cent. On the directors' front, there were insider buys in Cogent Holdings, China Yuanbang Property, Lian Beng Group, and International Healthway Corporation. On the negative side, the chairman of Loyz Energy recorded a rare sale after the stock fell by 31 per cent.
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