Singapore stocks gain along with Asia; Noble up 2%

Singapore stock exchange
An SGX sign is pictured at Singapore Stock Exchange Reuters

Singapore shares edged higher on Monday, tracking gains in regional equities on strong global economic growth.

Asian shares extended rally following a surge in Wall Street, with the Dow closing at fresh record highs on Friday amid upbeat corporate earnings.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent, aiming for a 12th straight session of gains. It is up 8 percent for the year so far. Japan's Nikkei rose 0.5 percent as the yen eased a little, while South Korea notched a record, Reuters data showed.

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At 0520 GMT, the Straits Times Index advanced 0.6 percent or 21 points to 3,588. It ended 0.15 percent lower on Friday, taking the year-to-date gains to about 5 percent.

The city-state's top lenders Oversea-Chinese Banking Corp gained 1.2 percent while United Overseas Bank and DBS Group Holdings added 0.4 percent each.

Active stocks included, ISR Capital climbing 33 percent to S$0.01 while Imperium Crown jumped 8.6 percent to S$0.08 in afternoon trades.

Noble gained 2 percent amid reports the commodities trader has reached a deal with creditors to restructure its $3.5 billion debt.

About 1.3 billion shares worth S$696 billion changed hands, with gainers outnumbering losers 238 to 142.

This article was first published on January 29, 2018