Buying surges, selling low for fourth straight week

THE buying surged while the selling among directors was low for the fourth straight week based on filings on the Exchange from Aug 25 to 29. A total of 19 companies recorded 32 purchases worth S$4.68 million versus two firms with three disposals worth S$0.103 million. The buy figures were up from the previous week's 13 companies, 27 purchases and S$1.4 million. On the selling side, the number of firms and trades were up from the previous week's one firm and one disposal. The value, however, was sharply down from the previous week's sales worth S$1.98 million. Aside from directors, the buyback activity rose with 13 companies that posted 38 repurchases worth S$9 million. The figures were up from the previous week's 11 firms, 29 trades and S$8 million.

There were several significant buyback and director trades last week. On the buybacks side, there were initial repurchases in Straco Corporation and Powermatic Data Systems. Meanwhile, Chosen Holdings resumed buying back after the stock rose by 16 per cent. Lastly, the sentiment is high in Cordlife Group with buybacks and purchases by a director and fund manager. On the directors' side, there were rare buys in Nam Cheong, Trek 2000, and Mermaid Maritime. On the negative side, there was a first-time sale by a director in Riverstone Holdings.

Straco Corporation Limited