Noble shares dive again in stock market, commodities rout

Singapore

NOBLE Group shares dived again on Wednesday amid a plunge in Asian equities and raw material prices, and persistent criticisms over its accounting practices by some market watchers, even as the commodities trader resumed its share buybacks.

Its stock tanked 11.4 per cent to close at 50.5 Singapore cents on Wednesday, as Singapore's market benchmark Straits Times Index sank 2.9 per cent to 3,061.49 points after China devalued its renminbi for a second day.

Noble had bought back 12.3 million shares on Tuesday, according to its filing on Wednesday, after a two-week blackout period prior to reporting its …