The InsiderHong Kong insider trading activity down last week but some rare buybacks seen

Insider activity fell based on filings on the Hong Kong stock exchange from July 24 to 28 with 23 companies that recorded 158 purchases worth HK$119 million versus eight firms with 45 disposals worth HK$55 million. The buy figures were down from the previous week’s 28 companies, 206 purchases and HK$129 million.

On the selling side, the number of firms and trades were down from the previous week’s 13 companies and 63 disposals. The sell value, however, was up from the previous week’s sales worth HK$41 million.

Meanwhile, the buyback activity fell for the third straight week with 14 companies that posted 46 repurchases worth HK$133 million based on filings from July 21 to 27. The figures were down from the previous 5-day period of 15 firms, 86 trades and HK$185 million.

Despite the fall in trading last week, there were several significant filings with rare buybacks in Beijing Enterprises Medical & Health Group and Dingyi Group Investment and first-time buys by an executive director in OP Financial Investments. The acquisitions in these three firms were made following the fall in their share prices. On the negative side, an executive director of China Resources Land sold shares for the first time following the sharp rebound in the share price.

Healthcare services provider Beijing Enterprises Medical & Health Group bought back 9.32 million shares on July 27 at HK$0.50 each. The group previously acquired 84.9 million shares from June to September 2016 at HK$0.54 to HK$0.42 each or an average of HK$0.47 each. Prior to the buybacks since 2016, the company acquired 24.94 million shares from April to December 2004 at an average of HK$1.07 each. The counter closed at HK$0.51 on Friday.

There are four significant points on the recent buyback: