The InsiderLee Shau-kee piles into SHKP amid busy week of activity

Buying among directors surged for a fourth week while selling rose for a second week, based on filings on the Hong Kong stock exchange in the fourth week of March. Buyers outweighed sellers with 25 companies that recorded 124 purchases worth HK$324 million, against 12 firms with 28 disposals worth HK$64 million.

The buy figures were sharply up from the previous week's 18 companies, 86 purchases and HK$271 million. On the selling side, the number of deals was down from 61 but the number of firms and the value were up from eight companies and HK$44 million.

Meanwhile, buy-back activity rose for a third week with 22 companies that posted 84 repurchases worth HK$210 million. Although the value was down from the previous week's HK$320 million, the number of firms and trades were sharply up from eight companies and 41 repurchases.

Lee Shau-kee was the top buyer in terms of value last week with purchases worth HK$175 million in Sun Hung Kai Properties. The vice-chairman has been active in the developer this month with 5.1 million shares bought from March 2 to 23 at an average of HK$118.20 each. He recorded purchases every day during that 16-day period.

Even more significantly, he has invested 2.5 times more in SHKP than in his flagship Henderson Land Development this quarter. The chairman resumed buying in Henderson the day after the developer announced its year-end results with 1.4 million shares purchased on March 24 at HK$53.05 each. He previously acquired three million shares from January 2 to 8 at an average of HK$53.91 each.

Overall, Lee has acquired HK$236 million worth of shares in Henderson, compared with HK$600 million in SHKP, this quarter.