OSIM, Hyflux, OCBC dominate buybacks

BUYING was flat and selling among directors remained low, according to Singapore Exchange filings in the first trading week of November. Buyers outnumbered sellers with 10 companies recording 21 purchases worth S$2 million versus two firms with four disposals worth S$236,000. The buy figures were not far off from the previous week's 12 companies, 22 purchases and S$2.5 million. On the selling side, the number of firms and trades were consistent with the previous week's one company and six disposals, but the sell value was sharply down from the previous week's S$6.4 million sales.

Buyback activity fell for the second straight week. Five firms posted 20 repurchases, compared with the previous week's seven companies and 28 trades. Despite the fall, the value of repurchases was S$9.1 million - sharply up from the previous week's turnover of S$5.2 million.

The bulk of significant trades last week were purchases with buybacks in Hyflux Ltd, OCBC and OSIM International and insider buys in Suntec Reit and Roxy-Pacific Holdings. The acquisitions in these firms were made following the announcement of third-quarter results. On the funds' side, there were purchases in The Straits Trading Co and Keppel Corp.