Chart of the Day: $116.5m mid-August share buybacks beats July's total

It is the seventh successive month that the $100m buyback treshold has been crossed.

This chart from the Singapore Exhange (SGX) shows that share buybacks amounted to $116.5m as total stocks bought totaled 17.71 million shares for the first 12 sessions of August.

SGX noted that the amount is already higher compared to July’s whole month buyback consideration of $109m and is more than double from August 2017’s $59.7m buyback record.

“This is the seventh successive month the $100m threshold has been crossed, with buyback consideration in excess of S$1 billion for the 2018 YTD,” SGX said.

DBS led the shopping spree for the month as it bought 2,950,000 shares for $74.8m. Also in the list of the 23 stocks that had engaged in the buybacks are UOB with 584,000 shares bought for $15.97m, CapitaLand with 3.41 million shares bought for $11.29m, City Developments with 500,000 shares bought for $4.78m, and OCBC with 300,000 shares bought for $3.57m.