Buying slows, selling activity plunges

PURCHASE activity slowed after heavy buying for four straight weeks while selling among directors plunged, based on filings on Singapore Exchange in the fourth week of September. A total of 14 companies recorded 20 purchases worth S$7.77 million versus one firm with one disposal worth S$900,000 - sharply down from the previous week's 19 companies, 46 purchases and S$20.6 million on the buying side and two firms, three disposals and S$5.96 million on the selling side.

While the buying by directors slowed last week, the buyback activity remained strong with 10 companies that posted 42 repurchases worth nearly S$29 million. The figures were up from the previous week's nine firms, 33 trades and S$12.74 million.

There were several significant corporate shareholder trades with buybacks in Falcon Energy Group and director purchases in A-Sonic Aerospace and Ley Choon Group. On the substantial shareholders' front, there was a rare purchase in Hwa Hong Corporation and sales in TIH Ltd, Innovalues Ltd and The Straits Trading Company.