Insider buying and buybacks surge

THE insider buying surged following two weeks of low purchases with six companies that recorded 12 acquisitions worth S$5.73 million based on filings on Singapore Exchange from Feb 20 to 24. The figures were sharply up from the previous week's four firms, five purchases and S$0.23 million.

The selling, on the other hand, remained low with one company with one disposal worth S$0.31 million. The figures were not far off from the previous week's one firm, two disposals and S$0.91 million.

Aside from directors, the buyback activity surged with seven companies that posted 23 repurchases worth S$20.97 million. The figures were sharply up from the previous week's four firms, 15 trades and S$1.7 million. With the surge in the buying last week, the bulk of the significant trades were purchases with buybacks in Singapore Exchange, Keppel Corporation, OCBC Bank and AEM Holdings. The buybacks in these four firms were made following the sharp rise in their share prices.