Singapore index edges down; Annica shares plunge

SINGAPORE, April 7 Mon Apr 7, 2014 12:48am EDT

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SINGAPORE, April 7 (Reuters) - Singapore shares fell at the start of the week, echoing broader Asian markets despite encouraging U.S. jobs data on Friday that showed a recovery in the world's largest economy.

The benchmark Straits Times Index fell 0.5 percent to 3,196, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent.

Noble Group Ltd was the worst performer on the index, edging down 3.5 percent at to S$1.235, shedding some of the gains it posted last week. Last Wednesday China's biggest grain trader COFCO Corp said it plans to buy a majority stake in the Singapore-listed commodities firm's agribusiness for an initial $1.5 billion.

Among small caps, shares of Annica Holdings Ltd plunged 40 percent to an all-time low of 0.009 after the company said late Friday it was the subject of a probe by Singapore's Commercial Affairs Department for possible trading irregularities.

The company is the latest in a series of penny stock firms that saw their share prices plummet after being investigated by the CAD on possible breaches of the Securities and Futures Act. (Reporting by Andrew Toh; Editing by Anupama Dwivedi)

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