Directors' selling down sharply

BUYING was flat for the second straight week while the selling among directors plunged in the last week of November. Buyers outnumbered sellers with 15 companies that recorded 24 purchases worth $2.1 million versus one firm with two disposals worth $0.24 million, according to filings on Singapore Exchange. The number of companies and trades on the buying side were unchanged while the buy value was down from the previous week's purchases worth $5.4 million. Sales, on the other hand, were sharply down from the previous week's five firms, six disposals and $4.37 million.

Buyback activity was high for the second straight week with companies posting 27 repurchases worth $4.7 million. The figures were not far off from the previous week's eight companies, 29 repurchases and $5.9 million.

There were several significant buyback and director purchases last week. Ho Bee Land, Venture Corporation and JK Tech Holdings bought back following the announcement of results. The buybacks in JK Tech are worth noting as the group's managing director also bought shares last week. On the directors' side, there were key insider buys in Asian Pay Television Trust, Courts Asia and Technics Oil & Gas.