The Insider | Lee & Man, SmarTone, Great Eagle and China New Higher Education to the fore in strong week of share buying
Sixteen firms record 69 purchases worth HK$121 million (US$15.4m) versus eight firms with 29 disposals worth HK$58 million
Share buying among directors rose for the first time in the past three weeks while selling rebounded sharply, based on filings on the Hong Kong stock exchange from March 5 to 9.
Sixteen companies recorded 69 purchases worth HK$121 million (US$15.4 million) versus eight firms with 29 disposals worth HK$58 million.
The number of companies and trades on the buying side were sharply up from the previous week’s 12 firms and 49 purchases. The buy value, however, was consistent with the previous week’s purchases worth HK$122 million. Sales were sharply up from the previous week’s five companies making 15 disposals worth HK$28 million.
Aside from directors, buy-back activity rose for the first time in three weeks with eight firms posting 36 repurchases worth HK$132 million, based on filings from March 2 to 8.
The number involved was unchanged while the number of trades and value were sharply up from the previous five-day totals of 24 trades worth HK$65 million.
There were only a few significant transactions last week due to the busy reporting season with notable buy-backs by Lee & Man Paper Manufacturing and SmarTone Telecommunications, and insider buys in Great Eagle Holdings and China New Higher Education Group.
