Singapore shares were little changed by midday as weakness
in commodity stocks such as Noble Group was offset by
small gains in market heavyweight Singapore Telecommunications
The market lacked inspiration from Wall Street, where the
S&P 500 index eased slightly after an eight-day run of gains.
The Straits Times Index was down 0.11 percent at
3,271.27 points. The MSCI index of Asia-Pacific shares outside
Japan was up 0.7 percent.
Noble fell 2.8 percent to S$1.215, while SingTel gained 0.87
percent to S$3.48. Noble was suspended from Argentina's grains
register for an investigation into unpaid taxes, according to a
"The fall is a knee-jerk reaction to the suspension but it
is unlikely to be material," said a trader.
"The index seems to be stuck in the range of 3250-3280,"
said OCBC investment analyst Carey Wong, adding that the market
is awaiting results from property firms for direction.
Property firms have been in play recently after the
Singapore government introduced new measures to cool the
residential property market.
The move triggered selling in most property stocks, but the
larger ones such as CapitaLand have rebounded.