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Noble Group Jumps in Singapore Amid Speculation of Stake Build

  • Stock jumps as much as 38%, triggering stock exchange query
  • Some ‘big players’ may be accumulating shares, CMC’s Yang says
Updated on

Noble Group Ltd., the commodity trader that’s struggling for survival after a multiyear stock rout and concerns it may default, surged in Singapore, with shares hitting their highest close since May amid speculation that large investors may be building stakes.

Stock in the Hong Kong-based company advanced as much as 38 percent to 65 Singapore cents and closed at 64 cents. While the company has rebounded from an intraday low of 28.5 cents on June 6, it’s still lost more than 60 percent this year.