Opinion | Directors feel urge to sell
For the second successive week, trading on the HK exchange is dominated by share disposals
The buying was low for a fourth week while the selling among directors was high for the second straight week, based on filings on the Hong Kong exchange from November 12 to 16.
In all, 21 companies recorded 75 purchases worth HK$42.6 million against 14 firms with 78 disposals worth HK$100 million.
The number of firms and trades on the buying side were slightly up from the previous 18 companies and 65 purchases but the value was sharply down from the previous week's acquisitions worth HK$69 million. The sales, on the other hand, were consistent with the previous week's 14 firms, 75 disposals, and HK$103.5 million.
While the buying by directors was low last week, the buy-back activity among listed firms surged with 14 companies that posted 81 repurchases worth HK$149.4 million. The figures were up from the previous week's 13 firms, 48 trades and HK$72.4 million.
Top buyers in terms of value were Johnson Electric Holdings, Soho China, First Pacific and ePro with trades worth a combined HK$116 million.
Electronic components manufacturer Johnson Electric was the top buyer in terms of value with 10.9 million shares purchased worth HK$53.5 million, at an average of HK$4.90 each. It acquired 4.4 million shares on November 9 at HK$4.84 each.