Heavy buys, no sales by directors

THE insider sentiment was positive with heavy buys and no sales by directors based on filings on Singapore Exchange during the holiday-shortened week of Oct 20 to 24. A total of 14 companies recorded 26 purchases worth S$7.3 million. Although the buying was high, the figures were sharply down from the previous week's five-day totals of 28 firms, 50 purchases and S$11.9 million. Aside from directors, the buyback activity fell last week with 15 companies that posted 58 repurchases worth S$11.1 million. The figures were sharply down from the previous week's 20 firms, 83 trades and S$49.7 million.

The heavy buying last week was due to fall in share prices with buybacks in Keong Hong Holdings and Keppel Land and director purchases in Figtree Holdings, Sino Grandness Food and Sing Holdings. It was not all price support last week, however, as there were acquisitions in TTJ Holdings…