Buying rebounds; selling plunges

THE buying rebounded while the selling among directors plunged, based on filings on Singapore Exchange in the third week of June. Buyers outweighed sellers with 16 companies that recorded 30 purchases worth $5.6 million versus seven firms with 10 disposals worth $4.4 million. The buy figures were up from the previous week's 13 companies, 22 purchases and $890,000. The sales, on the other hand, were sharply down from the previous week's 13 firms, 28 disposals and $16.3 million.

While the buying by directors rose last week, buyback activity was flat with eight companies that posted 23 repurchases worth $8.6 million. The figures were consistent with the previous week's nine firms, 23 trades and $9.2 million. Buybacks were recorded in Nam Cheong and GP Industries and insider buys in MegaChem Limited, Sing Holdings, LantroVision Singapore and Libra Group. Meanwhile, there were rare director purchases in United Industrial Corporation and Hu An Cable Holdings last week.

Nam Cheong