BUYING was high for the first time in the past four weeks with 17 companies that recorded 33 purchases worth $33.6 million, based on Nov 12-16 Singapore Exchange filings. The figures were sharply up from the previous week's 9 firms, 14 purchases, and $5.15 million. Selling remained low with only 3 companies recording 3 disposals worth $4.9 million, not far off from the previous week's 2 firms, 3 trades and $1.63 million. Besides directors, the buyback activity among listed firms surged last week with 17 companies that posted 37 repurchases worth $12.7 million. The figures were sharply up from the previous week's 11 firms, 20 trades and $6.6 million.

With the surge in the buying last week, the bulk of the significant trades were purchases. Several directors bought shares following the fall in their companies' share prices with purchases in Lian Beng Group, Noble Group, Sing Investments & Finance, Yamada Green Resources, and China Aviation Oil.

Two Wilmar International directors bought shares after the company's third quarter results. Major shareholder Jardine Strategic S'pore Pte Ltd recorded its first purchase in Jardine Cycle & Carriage since September 2011 after the stock fell by 12 per cent.

Source: AmFraser