The Insider | Insider activity quiet ahead of Lunar New Year, funds take the spotlight

Insider activity fell before the Chinese Lunar New Year break with 30 companies that recorded 157 purchases worth HK$303 million against 14 firms with 50 disposals worth HK$121 million. The buy figures were down from the previous week’s 37 companies, 187 purchases and HK$370 million.

On the selling side, the number of firms and trades were down from the previous week’s 17 companies and 75 disposals. The sell value, however, was up from HK$83 million.

While buying by directors fell last week, buy-back activity plunged with only 11 companies that posted 43 repurchases worth HK$91 million, based on filings from Monday to Thursday. The figures were sharply down from the previous week’s five-day totals of 17 firms, 80 trades and HK$1.4 billion.

There were only a few significant buy-back and director trades last week, with funds mostly taking the spotlight. Among them was JPMorgan Chase with purchases in Huaneng Power International, Anhui Conch Cement, Fuyao Glass Industry and China Resources Power Holdings. Value Partners was also active last week with an initial filing in Xinjiang Goldwind Science & Technology and sales in Yunnan Water Investment.

On the buy-back side, L’Occitane International resumed buying back at a higher price while China Harmony New Energy Auto Holding embarked on a buy-back programme following the sharp rebound in its share price.