Opinion | Heavyweights lead buying by directors as disposals subside
Peter Woo increases holdings of Wheelock after the developer posted a jump in first-half profits
Buying of their own company shares by directors surged for a second week, with 53 companies filing 282 purchases worth HK$290 million with the stock exchange for the first week of September.
The figures were sharply up from the previous week's 31 companies that disclosed 176 purchases worth a total of HK$140 million.
Selling, on the other hand, plunged, with only nine companies reporting 35 disposals worth HK$146.9 million. The figures were sharply down from the previous week's 14 companies that reported 73 disposals worth HK$244.7 million.
Hong Kong's heavyweights took the spotlight during the week, with chairman Lee Shau-kee picking up more shares of blue-chip property developer Henderson Land Development, buying 834,000 shares from August 30 to September 4 at an average of HK$48 each.
The purchases brought his total acquisitions since January to 19.38 million shares worth HK$837 million at an average of HK$43.19 each. The stock closed higher from his last purchase price at HK$49.75 on Friday.
There were also purchases by chairman Peter Woo Kwong-ching in Wheelock & Co, chairman William Fung Kwok-lun in Li & Fung and an executive director in Television Broadcasts.
