The Insider | HK directors stay busy picking up stock as buy-backs plunge
China Silver and Huajun shares to watch out for following rare purchases by senior executives
The insider trades that occurred during the recent steep market correction are finally all in and the buy figures last week were high, as expected, with 110 companies recording 580 deals worth HK$2.1 billion. In the previous week, there were 124 firms in 703 purchases for HK$2.25 billion.
On the sales side, 19 companies posted 62 disposals worth HK$208 million, sharply down from the previous week's HK$520 million from a similar number of firms and transactions.
Buy-back activity plunged, with 14 companies in 74 deals worth HK$457 million, compared with the previous week's 61 firms in 265 trades for HK$3.24 billion.
Directors who bought heavily during the correction have seen sharp gains in their companies' share prices.
However, not all directors benefited from the rebound in the market, with their shares trading at near their purchase prices.
Stocks that could rise from directors' purchase prices include China Silver Group and Huajun Holdings. The trades were especially significant as they were made by senior executives for the first time or who had been out of the market for a long time.