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Singapore Wrap Friday
Singapore-listed Noble Group Ltd said on Friday it had purchased 25 million of its own shares on the previous day, or about 0.37 per cent of its issued shares.
- Noble down 5.7% after year's first buyback; stock second most active
- Update: Noble Group still 58% away from analyst stock price targets
The pace of financial integration in South-east Asia is "disappointing", but policymakers are intent on speeding things up, Monetary Authority of Singapore managing director Ravi Menon said on Friday.
Thailand, with its sizeable population of 67 million and an upper-middle income economy, offers attractive investment opportunities for Singapore companies despite its challenges, IE Singapore said on Friday.
The latest enhancements to the Lease Buyback Scheme (LBS), which took effect from April 2015, have been "well-received", said National Development Minister Khaw Boon Wan on Friday in a blog entry.
Singapore sovereign fund Temasek is picking up close to an 8 per cent stake of Intel Capital, the investment arm of tech major Intel, in insurance web aggregator Policybazaar.com for around Rs 110 crore, The Times of India reported.
The STI Today
The Straits Times Index (STI) slumped to a five-month low this week when it closed at 3,295 on Tuesday, before a three-day rebound that included a 6.18- point rise on Friday took it to 3,353.85. The initial impetus for that bounce came from news that MSCI has postponed including China 'A' shares in its emerging markets index, which meant Singapore's weighting will not be cut - yet.