March 25, 2014 / 4:37 AM / in 4 years

Singapore shares retreat from two-week high, Noble gains

SINGAPORE, March 25 (Reuters) - Noble Group Ltd 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 percent to S$1.11, last seen on March 11.

Yanzhou Coal Mining Co Ltd has ditched a plan to buy the minority shares in its Australian arm Yancoal Australia Ltd, 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 percent to 3,102.87 as of 0403 GMT, after reaching a near two-week high of 3,121.39 in the previous session and rising 1.3 percent, 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 Ltd, Global Logistic Properties Ltd, and Sembcorp Industries Ltd, each declining 1.86, 1.52, and 1.12 percent respectively. (Reporting by Brian Leonal; Editing by Anand Basu)

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