Buying surges for third straight week
Selling remains very low; buyback activity stays high following steep fall in share prices.
THE buying surged for the third straight week while the selling among directors remained very low, based on filings on Singapore Exchange in the fourth week of August. A total of 50 companies recorded a whopping 122 purchases worth S$19.4 million, against one firm with two disposals worth S$0.834 million. The buy figures were sharply up from the previous week's 34 companies, 76 purchases and S$7.65 million. The sales, on the other hand, were consistent with the previous week's one firm, one disposal and S$0.26 million.
Meanwhile, the buyback activity remained high with 37 companies posting 137 repurchases worth S$126.9 million. The number of firms was up from the previous week's 34 companies while the number of trades and value were down from the previous week's 148 transactions worth S$171.2 million.
The bulk of the purchases last week were made following the steep fall in share prices with buybacks in Ho Bee Land and insider buys in SMRT Corporation, China Aviation Oil, Rotary Engineering, Q & M Dental Group, iFAST Corporation, Civmec Ltd, Starburst Holdings, OSIM International and UOL Group.
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