Singapore shares retreat from two-week high, Noble gains

SINGAPORE (Reuters) - Noble Group outperformed the Singapore market on Tuesday, matching a more than one-year high hit two weeks ago, while the index retreated after hitting a two-week high in the previous session.

Shares of the commodity trading firm rose as much as 2.8 per cent to $1.11, last seen on March 11.

Yanzhou Coal Mining Co has ditched a plan to buy the minority shares in its Australian arm Yancoal Australia, in which Noble is a key minority shareholder and had asked Yanzhou to improve its offer.

The benchmark Straits Times Index weakened nearly 0.3 per cent to 3,102.87 as of midday, after reaching a near two-week high of 3,121.39 in the previous session and rising 1.3 per cent, its biggest daily gain in more than six months.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed.

The worst performers in the market were Jardine Strategic Holdings, Global Logistic Properties, and Sembcorp Industries, each declining 1.86, 1.52, and 1.12 per cent respectively.

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