SIA, Hoe Leong lead week's buybacks

THE bulk of last week's significant trades were purchases with buybacks in Hoe Leong Corporation and Singapore Airlines and insider buys in Ho Bee Land, Best World International, Fragrance Group, Tat Hong Holdings, Ying Li Real Estate, and PSL Holdings.

Buying rebounded while selling among directors plunged, according to Singapore Exchange filings in the third week of March. Buyers outnumbered sellers with 19 companies recording 35 purchases worth $3.12 million versus three firms with four disposals worth $131,000. The buy figures were up from the previous week's 15 companies, 32 purchases and $2.47 million.

Sales, on the other hand, were sharply down from the previous week's six firms, 15 disposals and $2.42 million. While the buying by directors rose, buyback activity fell with eight companies posting 28 repurchases worth $35 million. The figures were down from the previous week's 12 firms, 39 trades and $41 million.