Noble takes a hit from Glencore's meltdown

Singapore

SHARES and debt of commodity trader Noble Group took a hit on Tuesday following an overnight plunge in the shares of Glencore, but analysts say the sell-off may be overdone.

Noble, whose portfolio of hard-commodity assets and businesses made it the most exposed among Singapore stocks to Glencore fears, saw its stock fall to a seven-year closing low of 40 Singapore cents, down by 10.1 per cent or 4.5 Singapore cents on the day. It was the most active stock on Tuesday, with 122 million shares changing hands.