Opinion | Chairman adds to holdings in Dah Sing amid active trading

Buying rose for a fourth week while selling among directors was high for a third week, with 22 companies that recorded 86 purchases worth HK$541 million, against 10 firms with 44 disposals worth HK$49 million.

The purchases were up from the previous week's 16 firms, 70 deals and HK$472 million, while sales rose from nine companies, 38 disposals and HK$30 million. Buy-backs among listed firms also surged, with 12 companies that posted 64 repurchases worth HK$462 million. The figures were sharply up from seven firms, 40 trades and HK$191 million.

The huge buy-back value was due to repurchases by internet play Tencent, with 812,000 shares purchased worth HK$203 million from March 21 to 22 at an average of HK$250 each. The repurchases were made after the stock fell 12 per cent from HK$284.40 on March 8.

The buy-backs were also made after the firm announced on March 20 a 24.78 per cent gain in year-end profit to 12.73 billion yuan (HK$15.73 billion). Last year, the group acquired 26,000 shares in May at HK$204.85 each and 128,000 shares in January at HK$152.51 each.

The recent repurchases bode well for investors as the stock rose by an average of 51 per cent six months after the group bought shares, based on 94 filings since 2005.

The stock closed lower from the group's last buy-back price at HK$245.40 on Friday.