Buying sharply up from a week ago

THE buying rebounded sharply after falling for two straight weeks while the selling among directors rose based on filings on the Singapore Exchange from April 21 to 25. Buyers outweighed sellers with 12 companies that recorded 23 purchases worth $1.43 million versus two firms with six disposals worth $0.94 million. The buy figures were sharply up from the previous week's four-day totals of five companies, six purchases, and $0.50 million. On the selling side, the number of firms was unchanged but the number of trades and value were sharply up from the three disposals worth $0.06 million.

Buyback activity plunged with a paltry two firms with 12 repurchases worth $2.18 million. The figures were sharply down from the previous week's five companies, 16 trades and $3.53 million.

The surge in the insider buying last week was due to purchases by non-executive director Hiew Yoon Khong in real estate investment trusts Mapletree Commercial Trust (MCT), Mapletree Industrial Trust (MIT), Mapletree Logistics Trust (MLT) and Mapletree Greater China Commercial Trust (MGCCT). The acquisitions were made following the announcement of year-end results. Mr Hiew purchased 110,000 units of MCT on April 24 at $1.29 each, which increased his deemed holdings to 2.320 million units or 0.11 per cent of the issued capital. He also has direct interest of 489,000 units of 0.02 per cent. In MIT, Mr Hiew picked up 100,000 units on April 23 at $1.43 each, which boosted his deemed stake to 2.190 million units or 0.13 per cent. He also has direct interest of 729,000 units or 0.04 per cent.