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Singapore shares subdued; Noble hits 6-week high

Published on May 19, 2014 2:04 PM

SINGAPORE (Reuters) - Singapore stocks started the week on a tepid note with shares of Noble Group topping the index to hit a six-week week high after the company reported better-than-expected quarterly earnings last week.

The benchmark Straits Times Index was little changed at 3,264.36 by midday, while MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 per cent.

Shares of Noble climbed nearly 4 per cent to $1.315, a level not seen since April 4, extending gains from last Friday after the company posted quarterly profits on Thursday that more than tripled from the same period last year.

The commodities firm's stock was among the most actively-traded on the index, with more than 52 million shares changing hands, more than 1.8 times its 30-day trading average.

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