Singapore stocks gain for third day; Noble Group climbs 33%

Singapore shares extended gains to a third session on Tuesday, led by buying in lenders such as DBS Group and United Overseas Bank.

SGX
People watching electronic board. Reuters

Singapore shares extended gains to a third session on Tuesday, led by buying in lenders such as DBS Group and United Overseas Bank.

Asian shares took a breather on Tuesday after three straight sessions of gains. MSCI's broadest index of Asia-Pacific shares outside Japan dithered either side of flat having bounced 2 percent in the past three sessions.

Investors continued their policy vigil with the Federal Reserve set to end its two-day meeting on Wednesday, while the European Central Bank meets on Thursday.

The Straits Times Index rose 0.15 percent or 5 points to 3,465. It ended 1.05 percent higher on Monday, taking the year-to-date performance to about 20 percent.

Shares of United Overseas Bank gained 0.2 percent while DBS Group Holdings added 0.2 percent.

Shares in Infinio Group jumped as much as 50 percent to S$0.003 on the Singapore Exchange.

Embattled commodities trader Noble Group jumped 33 percent after it completed the sale of U.S.-based coal unit, MR Coal Marketing for US$34.5 million to an unnamed buyer.

About 1.6 billion shares worth S$994 million changed hands, with gainers outnumbering losers 2392 to 172.

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