Hot stock: Noble Group shares erase early gains, hit 6-1/2 year low
[SINGAPORE] Singapore-listed shares of Noble Group Ltd on Tuesday dropped as much as 6.6 per cent to an intra-day low of S$0.425, their lowest since Nov 2008, erasing earlier gains.
Shares in Noble, Asia's largest commodity trader, had rallied more than 5 per cent in early trade, a day after its chief executive said the company was open to selling core businesses during a meeting with investors that lasted more than four hours.
Noble, already under pressure in a weak commodities market, hit the spotlight in February when blogger Iceberg Research alleged the company was inflating its assets by billions of dollars by not fairly representing the value of its commodity contracts. The company has rejected the claims.
REUTERS
READ MORE:
Balance sheet our top priority: Noble
PwC to return to Noble by year-end to review implementation progress
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard