Director buying plunges; buybacks rebound
BUYING by directors plunged after trading flat for two straight weeks based on filings on the Singapore Exchange from Feb 6 to Feb 10 with four companies recording five purchases worth S$0.74 million. The figures were sharply down from the previous week's four-day total of nine firms, 18 purchases and S$1.51 million. Meanwhile, there were no sales by directors last week after posting a modest two companies, three disposals and S$0.11 million in the previous week.
While buying by directors plunged, buyback activity rebounded sharply last week with five companies that posted eight repurchases worth S$2.2 million. The figures were sharply up from the previous week's two firms, four trades and S$1.24 million.
Despite the low buying and no sales by directors last week, there were several significant corporate shareholder trades last week with buybacks in Singapore Telecommunications and Singapore Exchange, and insider buys in Shinvest Holding, The Trendlines Group, Perennial Real Estate Holdings and Accrelist Limited. On the funds' side, Aberdeen Asset Management recorded a sale in City Developments at higher than is purchase price in December last year.
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