Share buying high for fourth straight week
Several significant trades with buy-backs in SMI Holdings and NewOcean Energy Holdings following sharp falls in their share prices while two high-level board members of C&N Holdings and Clifford Modern Living Holdings have been unloading shares at progressively higher prices
Company share buying was high for the fourth straight week, while the selling among directors rose based on filings on the Hong Kong stock exchange from June 11 to 15.
A total of 42 companies recorded 281 purchases worth HK$447 million (US$56.92 million) compared with 14 firms and 78 disposals worth HK$308 million the previous week. The number of companies and trades on the buying side were not far off from the previous week’s 44 firms and 265 purchases. The buy value, however, was down from the previous week’s acquisitions worth HK$526 million.
On the negative side, the number of companies was down from the previous week’s 18 firms while the number of trades and value were up from the previous week’s 73 disposals worth HK$177 million.
Buy-back activity fell for the third straight week with 19 companies posting 73 repurchases worth HK$1.1 billion based on filings from June 8 to 14. The number of firms was consistent with the previous 5-day totals of 18 companies while the number of trades and value were down from the previous week’s 87 repurchases worth HK$1.25 billion.
There were several significant trades last week with buy-backs in SMI Holdings and NewOcean Energy Holdings following sharp falls in their share prices.
