Singapore stocks edge higher; Noble gains 11%

Singapore shares edged higher on Wednesday, clocking their fourth straight session of gains, helped by financials.

SGX
SGX Logo. Reuters

Singapore shares edged higher on Wednesday, clocking their fourth straight session of gains, helped by financials.

Asian shares edged up as crude oil futures took back lost ground. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent.

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 0.09 percent or 3 points to 3,468. It ended 0.15 percent higher on Tuesday, taking the year-to-date performance to about 20 percent.

Among the lenders, Oversea-Chinese Banking rose 0.2 percent while DBS Group Holdings gained 0.4 percent.

Noble Group climbed 11 percent amidst report commodities trader is talking to creditors about a conventional restructuring that includes a debt-for-equity swap, Bloomberg reported on Tuesday.

Midas Holdings stock zoomed up 4 percent and was one of the most active counter in trades.

But shares in Infinio Group slumped 33 percent after gaining as much as 50 percent to in the previous session.

About 2.4 billion shares worth S$1 billion changed hands, with losers outnumbering gainers 206 to 189.

READ MORE