Corporate purchases surge, buybacks plunge

DESPITE a shorter trading week corporate purchases of stocks jumped in April 27-30, according to filings on the Singapore Exchange. Twelve companies made a total 17 purchases worth S$4.6 million.

This was up sharply from the week before when S$1.8 million of shares were bought over the normal five trading days. But the number of buys made last week was down sharply from the 33 recorded over a normal 5-day week in the previous week. The number of companies involved in the two weeks was unchanged.

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