SE Asia Stocks-Singapore climbs on $2.5 bln share deal; others mixed

Tue Apr 15, 2014 2:01am EDT

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By Mai Nguyen
    HANOI, April 15 (Reuters) - Singapore outperformed other
regional sharemarkets in mixed trading on Tuesday, boosted by
news of a plan by Southeast Asia's biggest property developer to
buy up shares in one of its subsidiaries.
    Shares of CapitaMalls Asia surged a staggering
21.33 percent after top property developer CapitaLand Ltd
 offered to buy out minority shareholders in the
Singapore-listed shopping mall operator. 
    The $2.45 billion deal is aimed at simplifying CapitaLand's
corporate structure and taking advantage of a discount valuation
at CapitaMalls. Shares of CapitaLand also jumped 5.48 percent.
    The Straits Times Index hit near a seven-month
intraday high in early trade on Tuesday, extending a gain in the
previous session on its central bank's optimism over the
city-state's economic outlook after a sluggish first quarter. 
    Indonesia's Jakarta Composite Index edged up 0.14
percent, led by a 1.02 percent advance of Bank Rakyat Indonesia
Perserco Tbk PT which tumbled 5.6 percent on Thursday
following an election result that weighed on market sentiment.
 
    The Philippine benchmark index bounced back from
recent losses to reach 0.58 percent at the break, with top
gainer Bank of the Philippine Islands advancing 2.15
percent.
    Vietnamese shares entered a fourth day of losses,
dipping 0.26 percent, while the Malaysian market edged
down 0.14 percent.
    The Thai bourse was closed for a public holiday and will
reopen for business on Wednesday.
    For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0527 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   417.30        415.91       +0.33
 Singapore          3244.39       3214.83       +0.92
 Kuala Lumpur       1849.00       1851.53       -0.14
 Jakarta            4871.62       4864.88       +0.14
 Manila             6627.46       6589.55       +0.58
 Ho Chi Minh         594.54        596.11       -0.26
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Editing by Martin Petty and Anupama Dwivedi)
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