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Robert Halili

Insider activity slowed last week, with 50 companies recording 253 transactions worth HK$768 million based on exchange filings during a holiday-shortened week.
The figures were sharply down from the previous week's five-day totals of 69 firms, 409 trades and HK$1.25 billion.
Sellers outweighed buyers, with 34 companies posting 158 disposals worth HK$328 million versus 17 firms with 95 purchases worth HK$440 million.
The rise in the market has continued to spur activity on both sides with directors recording buys despite the sharp increase in their companies' share prices.
Two stocks that recorded purchases on steep price gains were China Best and Time Watch Investments.
Meanwhile, several directors took profits on shares they bought several years ago. Two stocks with heavy profit taking last week were Sunwah Kingsway Capital and China Medical System.
Non-executive chairman Peter Kuk recorded his first trades in freight forwarder China Best since his appointment in July with 75 million shares purchased from April 22 to 28 at 28 HK cents each.
The trades, which accounted for 18 per cent of the stock's trading volume, increased his holdings by 51 per cent to 221.436 million shares or 5.06 per cent of the issued capital.
The counter closed at 31 HK cents on Thursday.
Chief executive Tung Koon-ming picked up where he left off in watch manufacturer and retailer Time Watch Investments in November with 436,000 shares purchased on April 24 at HK$1.25 each.
The trade increased his holdings to 1.434 billion shares or 68.97 per cent of the issued capital.
The acquisition was made after the stock rebounded by 28 per cent from 98 HK cents on April 1.
The stock closed at HK$1.31 on Thursday.
Chief executive Michael Choi Koon-ming unloaded shares of financial services provider Sunwah Kingsway Capital at higher than his acquisition prices from 2011 to 2012 with 100 million shares sold on April 15 and a further 100 million shares from April 22 to 23 at an average of 26 HK cents each.
The trades, which accounted for 26 per cent of the stock's trading volume, reduced his holdings by 93 per cent to 14.57 million shares or 0.32 per cent of the issued capital.
The disposals were made on the back of a 53 per cent rebound in the share price since March from 17 HK cents. The counter closed at 40 HK cents on Thursday.
Executive directors Chen Hongbing and Chen Yanling unloaded shares of mainland pharmaceutical firm China Medical System after the stock rose by as much as 72 per cent from their purchase prices last year with a combined 18.65 million shares sold from April 14 to 24 at HK$15.10 to HK$13.39 each or an average of HK$14.16 each.
The sales accounted for 20 per cent of the stock's trading volume.
Chen Hongbing sold 13.73 million shares from April 14 to 24 at HK$14.22 each, which reduced his holdings by 11 per cent to 111.128 million shares or 4.47 per cent of the issued capital.
Chen Yanling sold 4.92 million shares from April 15 to 16 at HK$13.99 each, which lowered his stake by 23 per cent to 16.533 million shares or 0.66 per cent.
He previously acquired 504,000 shares from April to May last year at HK$8.79 each and 3.3 million shares from June 2011 to September 2013 at HK$8.03 to HK$3.27 each or an average of HK$6.77 each.
The stock closed at HK$13.70 on Thursday.
Robert Halili is the managing director of Asia Insider


Hong Kong directors' share buy-backs continue despite sharp price rises

Time Watch Investments chief executive Tung Koon-ming purchased 436,000 shares on April 24 at HK$1.25 each. Photo: Jonathan Wong



Business

Markets

Time Watch and China Best record steep price gains as market rise continues to spur activity


Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Column

The Insider

.css-1m2rp1p{color:#34b8b5;}The Insider | Hong Kong directors' share buy-backs continue despite sharp price rises

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Time Watch and China Best record steep price gains as market rise continues to spur activity

The Insider | Hong Kong directors' share buy-backs continue despite sharp price rises

Time Watch and China Best record steep price gains as market rise continues to spur activity