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

Reuters

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.

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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)