Sun Hung Kai Properties' largest shareholders - the three Kwok brothers - bought nearly HK$13 million worth of shares last week to support its share price. Its telecom and technology arm - SmarTone Telecommunications and Growth Enterprise Market-listed Sunevision - also bought back shares totalling $1.6 million in the open market amid volatility, according to disclosures made to Hong Kong Exchanges and Clearing yesterday. The three brothers - Walter Kwok Ping-sheung, Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen - bought 50,000 shares at $54.50 each on Friday for a consideration of $2.73 million. It was the third time last week the Kwoks, whose investment is consolidated in a trust, bought shares in the market. They bought 82,000 shares on the Monday and 100,000 shares on Thursday at prices ranging between $55.50 and $56.12 per share, for more than $10.15 million. Shares of the largest property company in Hong Kong closed yesterday with a gain of 1.76 per cent at $57.50. A spokesman for Sun Hung Kai declined to comment on why its largest shareholders, who together own 44.84 per cent, would further increase their stake. Last week, extreme volatility in the local stock market pushed the Kwok brothers' property flagship to as low as $54.25 per share as the Hang Seng Index fell below the 10,000 key support level last Wednesday following a sharp correction on Wall Street. But the Hang Seng re-took that level yesterday following four days of rebounding stocks in the United States. The Kwok brothers have bought Sun Hung Kai Properties shares five times this year, but their latest transactions followed an absence since April. In the period between March 21 and April 3, they bought 259,000 shares at between $56.87 and $58.12 each, for an investment of $13.39 million. Cheung Kong (Holdings) also recently saw a majority shareholder raising its stake. Managing director Victor Li Tzar-kuoi bought 100,000 shares at $63.25 each on July 19, his first purchase since October last year. Meanwhile, Sun Hung Kai Properties' 29 per cent associate SmarTone bought back 109,500 shares at between $7.90 and $7.95 per share on Monday. Its subsidiary Sunevision also bought back a total of 676,000 shares at between $1.08 and $1.09 a share last week.