SINGAPORE EQUITY DIGEST – BUYBACK CANDIDATES
This post was written for www.hnworth.com, a site targeting high net worth individuals in Singapore.
In it I have compiled a useful list of companies that are potential buyback candidates.
Have fun reading !
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A major indecision last week for the Singapore equity market with the week closing on a doji pattern (unchanged) in the weekly charts with slightly higher than average volume of 1.14 billion vs a 30 week average of 0.98 bio.
STI Index 2 year weekly candlestick chart
Doji patterns typically signify reversal of trends or continuation of trends but I would read this one in the context of the highest number of buybacks we are seeing for the year.
Last week, Keppel Corp joined in the stock buyback fray, buying back 1.56 million shares daily over 3 days between 10-13 Dec, and I do not think this is the last we will see of them.