Hi-P International buying back shares as trade tensions cloud sentiment

SINGAPORE (May 14): Integrated contract manufacturer Hi-P International has bought back shares four times this month, as its shares slid on dimmer earnings prospects. On May 8, the company bought 66,800 shares for $92,405, or an average price of $1.38. On May 7, it acquired 300,000 shares for a total consideration of $436,044, representing an average price of $1.45 a share. Earlier, on May 4, it bought 400,000 shares for $587,406, or an average price of $1.47 each. A day before that, Hi-P purchased 761,200 shares for $1.1 million, or an average price of $1.49.