The InsiderStrong buyback activity led by four Hong Kong property industry heavyweights
Lee Shau Kee in Henderson Land, Raymond Kwok in Sun Hung Kai Properties, Victor Li in Cheung Kong Infrastructure, and Daisy Ho in Shun Tak Holdings
Buying rose for the second straight week, while selling among directors plunged, based on filings on the Exchange from November 7 to 11.
Buyers outweighed sellers with 38 companies recording 168 purchases worth HK$602 million versus 11 firms with 34 disposals worth HK$101 million.
The buy figures were sharply up from the previous week’s 28 companies, 104 purchases and HK$160 million while the sales were sharply down from the previous week’s 16 firms, 58 disposals and HK$186 million.
Buyback activity remained high with 22 companies posting 121 repurchases worth HK$1.695 billion. The figures were not far off the previous week’s 23 firms, 150 trades and HK$1.781 billion.
The huge insider turnover last week was led by purchases by four Hong Kong property and infrastructure heavyweights: Lee Shau Kee in Henderson Land, Raymond Kwok in Sun Hung Kai Properties, Victor Li in Cheung Kong Infrastructure, and Daisy Ho in Shun Tak Holdings.
Their collective buying was a strong sign of confidence in the market in the wake of the US elections.
Sentiment remains high in China Aluminum Cans Holdings with buybacks and purchases by its chairman last week. Also on our buy alert are Nanyang Holdings and Hysan Development as these firms resumed buying back at higher prices last week.