Genting, Biosensors, SIA feature in buybacks
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DIRECTORS' buying fell while selling remained low in the second week of November, according to filings on Singapore Exchange. A total of nine companies recorded 14 purchases worth S$1.83 million versus two firms with two disposals worth S$640,000. The buy figures were down from the previous week's 10 companies, 21 purchases and S$2.03 million. Sales, on the other hand, were consistent with the previous week's two firms, four disposals and S$236,000.
While buying by directors fell last week, buyback activity surged with 12 companies posting 36 repurchases worth S$22.4 million. The figures were up sharply from the previous week's five firms, 20 trades and S$9.1 million. Among the companies that bought back shares last week were Genting Singapore, Biosensors International and Singapore Airlines (SIA).
Although the insider buying slowed last week, there were significant purchases by high-level executives - particularly in the services sector. Among the stocks that recorded key buys in service-related stocks last week were Kim Heng Offshore, Asiamedic Ltd, SHS Holdings and Avi-Tech Electronics.
