The Insider | Director, buy-back activity on Hong Kong exchange plunges due to short trading week

The director and buy-back activity plunged based on filings on the Hong Kong stock exchange during the holiday shortened week of October 3 to 6. A total of 30 companies recorded 142 buys worth HK$284 million (US$36.4 million) versus seven firms with 14 disposals worth HK$62 million.

The three-day totals were sharply down from the previous week’s five-day totals of 51 companies, 335 buys and HK$483 million on the buying side and 14 firms, 48 disposals and HK$436 million on the selling side.

On the buy-backs side, a total of 17 companies recorded 54 transactions worth HK$647 million based on filings from September 29 to October 4. The three-day totals were sharply down from the previous five-day totals of 31 firms, 151 trades and HK$1.107 billion.

Despite the short trading week and the sharp fall in the director and buy-back activity, there were several significant trades last week with buy-backs in online games developers Boyaa Interactive International and IGG Inc and insider buys in yarn and fabrics manufacturer Texhong Textile Group and property developer Agile Property Holdings.

Boyaa Interactive International bought back 235,000 shares on September 29 at HK$3.13 each. The group previously acquired 90,000 shares in June 2014 at an average of HK$8.19 each. The trades since June 2014 are the company’s first buy-backs since listing in November 2013. The stock closed at HK$3.17 on Friday.

Significant Points