The Insider | Fewer insider share purchases during first trading week of 2017

Buyers got off to a slow start in the New Year with 44 companies that recorded 225 purchases worth HK$515 million for the holiday-shortened week of January 3 to 6.

The number of companies and value were sharply down from the previous week’s 3-day totals of 54 firms and HK$999 million, while the number of purchases was unchanged from the previous week. The selling, on the other hand, was flat with nine companies that recorded 23 disposals worth HK$200 million. The number of trades was sharply down from the previous week’s 32 disposals while the number of firms and value were slightly up from the previous week’s six companies and HK$175 million.

Aside from directors, the buyback activity was low in the first week of the New Year with 20 companies that posted 64 repurchases worth HK$320 million. The number of firms and trades were sharply down from the previous week’s 28 companies and 118 repurchases. The value, however, was sharply up from the previous week’s turnover of HK$236 million.

There were several rare insider transactions last week, with insider buys in Hang Lung Properties, China SCE Property, Yuzhou Properties and Leoch Technology.

The purchases were made following the fall in their share prices. On the flip side, there were first-time sales by directors in Elegance Optical following the sharp rebound in its share price.