Robert Halili

The Insider | Hong Kong directors’ trades take spotlight in week of heavy insider activity

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Tencent executive director Martin Lau Chi-ping sold 1.3 million shares from August 24 to 26 at HK$201.16 each. Photo: Edmond So

Robert Halili

Published: 5:53pm, 4 Sep 2016Updated: 10:28am, 16 Jan 2017

Buying among directors rebounded sharply while selling surged for a second week, based on filings on the Hong Kong stock exchange from August 29 to September 2.

A total of 28 companies recorded 133 purchases worth HK$109 million, compared with 19 firms with 71 disposals worth HK$637 million. The figures were sharply up from the previous week’s 19 companies, 86 purchases and HK$58 million on the buying side and nine firms, 30 disposals and HK$182 million on the selling side.

Buy-back activity also rose for a fourth week with 19 companies that posted 110 repurchases worth HK$901 million. The figures were sharply up from 15 firms, 81 trades and HK$651 million.

Directors took the spotlight last week. There was a rare acquisition by the managing director of Transport International Holdings while there were buy-backs and a purchase by the chairman of Sino Land following the sharp gain in the share price. On the negative side, an executive director recorded his highest sale price in Tencent Holdings. There was also a first-time sale by an executive director of Wheelock and Co following the sharp gain in the share price.

Managing director Roger Lee Chak-cheong recorded his first on-market trades in public transportation operator Transport International since his appointment in January last year with 55,600 shares bought from August 29 to 31 at an average of HK$24.03 each. The shares bought represented 0.01 per cent of the issued capital.

The purchases were made on the back of the 25 per cent rise in the share price since June from HK$19.20. The stock is also up since July 2014 from HK$12.35.

Another director that recorded an initial purchase this year is non-executive director Winnie Ng with 140,000 shares bought on January 21 at HK$20.62 each. She acquired a further 943,000 shares in July through options at an undisclosed price, which boosted her stake to 5.41 per cent.