Buying surges after 2 weeks of low purchases

THE buying surged following two weeks of low purchases based on filings on the Singapore Exchange (SGX) in the second week of May with 13 companies that recorded 29 acquisitions worth S$2.5 million. The figures were sharply up from the previous week's four-day totals of six firms, nine purchases and S$0.56 million. The sales, on the other hand, remained low with one firm that posted two disposals worth S$0.042 million. The figures were consistent with the previous week's one company, one disposal and S$0.011 million.

Aside from directors, the buyback activity rebounded sharply last week with 12 companies that posted 31 repurchases worth S$12.3 million. The figures were sharply up from the previous week's three firms, eight trades and $7.2 million.

There were several significant purchases last week with initial buybacks by GSH Corporation. On the directors' side, there were insider purchases in Sing Investments & Finance, Heeton Holdings, Hutchison Port Trust, Nam Cheong Limited and Overseas Education following the sharp fall in their share prices. On the upside, there were insider buys in Singapore Medical Group, Maxi-Cash Financial Services and AnnAik Ltd following the sharp gain in their share prices.