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Robert Halili

Buying rose for a fourth week while selling among directors fell for a second week, based on filings on the Hong Kong exchange last week.
A total of 32 companies recorded 124 purchases worth HK$147 million, compared with nine firms with 38 disposals worth HK$58 million.
The number of companies and trades on the buy side were up from the previous week's 24 firms and 95 deals. The value, however, fell sharply from HK$493 million.
Sales were down from 16 companies, 44 deals and HK$75 million.
The bulk of the significant trades last week were insider acquisitions in Techtronic Industries, Luk Fook Holdings International and econtext Asia.
Chairman Horst Pudwill recorded his first trade in rechargeable tools manufacturer Techtronic since June 2010 with 89,000 shares bought at HK$23.86 each.
The trades increased Pudwill's holdings to 19.9 per cent of the issued capital.
The deals were also made on the back of a 395 per cent increase in the share price since October 2011 from HK$4.82.
The recent purchases bode well for shareholders as the stock rose an average of 6 per cent three months after Pudwill bought shares, based on 238 acquisitions since 1993.
The insider sentiment is not entirely positive this year as non-executive director Christopher Langley and executive director Stephan Pudwill sold a combined 3.5 million shares from April 22 to May 15 at an average of HK$25.12 each.
The stock closed at HK$24.80 on Friday.
Chairman Wong Wai-sheung and executive directors Nancy Wong Lan-sze and Wong Hau-yeung acquired 170,000 shares of gold jewellery retailer Luk Fook at an average of HK$23.15 each.
The acquisitions were made after the stock jumped 19 per cent from HK$19.44 on June 16. Despite the rebound, the counter is still down since January from HK$33.65.
The purchases were also made after the company announced a 50 per cent gain in annual profit to HK$1.86 billion.
Wong Wai-sheung bought 20,000 shares at HK$23.13 each, which increased his holdings to 42.23 per cent. Nancy Wong bought 100,000 shares at HK$23.13 each, boosting her stake to 0.32 per cent. Wong Hau-yeung acquired 50,000 shares at HK$23.21 each, which raised her holdings to 0.01 per cent.
The stock closed at HK$23.60 on Friday.
Shareholders moved in to support the share price of e-commerce solutions provider econtext after the stock fell 67 per cent from the record high of HK$8.41 in January.
The stock had slumped after the group announced a 55 per cent drop in first-half earnings in February and a profit warning in the second week of last month.
Chief executive Takashi Okita, chairman Kaoru Hayashi and Digital Garage acquired nearly 2 million shares at an average of HK$2.75 each.
Those are their first trades since the stock was listed in December last year.
Their purchase prices were lower than the stock's listing price of HK$3.59.
Okita bought 140,000 shares at HK$2.66 each, while Hayashi acquired 550,000 shares at HK$2.81 each and Digital Garage bought 1.3 million shares at HK$2.74 per share.
The stock last traded at HK$3.32.
Robert Halili is the managing director of Asia Insider


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Techtronic

Techtronic, Luk Fook bosses boost stakes as share prices rebound

Wong Wai-sheung, chairman of Luk Fook Holdings.

Business

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Money News

Directors move in to support econtext Asia after 67pc slump in counter on poor earnings


Buying rose for a fourth week while selling among directors fell for a second week, based on filings on the Hong Kong exchange last week.


Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Column

Opinion | Techtronic, Luk Fook bosses boost stakes as share prices rebound

Directors move in to support econtext Asia after 67pc slump in counter on poor earnings