Singapore stocks swing between gains and losses, Noble up 2%

sgx trader
A trader looks at electronic screens on the dealing floor at DBS Bank's new headquarters in Singapore. REUTERS

Singapore shares fell as much as 0.3 percent before erasing all their losses to trade higher on Wednesday, tracking subdued Asian equities.

Asian shares took a breather after the indexes climbed to record highs in the previous session following a deal to end a U.S. government shutdown.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, having jumped 1.2 percent on Tuesday to an all-time peak. Japan's Nikkei lost 0.8 percent as the yen strengthened, though that was from a 26-year top., Reuters data showed.

At 0530 GMT, the Straits Times Index was up 0.21 percent or 7 points to 3,599. It ended 0.63 percent higher on Tuesday, taking the year-to-date gains to about 6 percent.

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The city-state's top lenders Oversea-Chinese Banking Corp edged up 0.1 percent, DBS Group Holdings gained 0.9 percent but United Overseas Bank dropped 0.4 percent.

Active stocks included, Midas climbing 8 percent to S$0.017 while Adventus lost 18 percent to S$0.01 in afternoon trades.

Shares in CapitaLand Mall Trust Management rose about 1 percent after reported a 0.7 percent rise in fourth-quarter distribution per unit

Noble gained 2 percent amid report China's Cedar Holdings was interested in buying the commodities trader.

About 1.2 billion shares worth S$932 million changed hands, with losers outnumbering gainers 200 to 177.

This article was first published on January 24, 2018