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SE Asia Stocks-Singapore gains on industrial, property firms; Thailand falls
21 October 2019
source: reuters.com
    * Indonesia posts seventh consecutive session of gains
    * Thai September customs-cleared exports worse-than-expected
    * Singapore rises most in nearly three weeks

    By Sameer Manekar
    Oct 21 (Reuters) - Singapore shares closed at a near
three-week high on Monday, boosted by the industrial and
real-estate sectors, while Thailand retreated after a surprise
fall in its customs-cleared exports for September.
    The city-state's benchmark  .STI  closed up 0.8%.
    On Monday, Singapore state investor Temasek Holdings
 TEM.UL  said it was offering to take control of Keppel Corp
 KPLM.SI  in a $3 billion deal that will shore up support for
the conglomerate, which is battling difficult business
conditions.  urn:newsml:reuters.com:*:nL3N2761L0
    "I think the Temasek-linked companies are rising in the hope
that they could get a similar offer from Temasek," said Linus
Loo, head of research at Lim & Tan Securities said.
    Following the offer, utility firm Sembcorp Industries
 SCIL.SI  rose 10.1%, while shipbuilding unit Sembcorp Marine
 SCMN.SI  posted its best intraday rise since February 2017.    
    "Traders are chasing the stocks on speculation of possible
restructuring between Keppel Corp, Sembcorp Industries and
Sembcorp Marine," said Kee Yan Yeo, equity market strategist at
DBS Bank.
    Temasek Holdings owns 49.45% and 60.98% stakes in Sembcorp
Industries and Sembcorp Marine, respectively, according to
Refinitiv Eikon data.
    Indonesian stocks  .JKSE  clocked their seventh consecutive
session of gains, finishing marginally higher, ahead of a
central bank policy meeting later this week.
    A small majority of economists expect Bank Indonesia to cut
its benchmark rate for the fourth straight month to support the
economy, a Reuters poll showed on Monday.  urn:newsml:reuters.com:*:nL3N27620P
    Financial and communication firms were the biggest gainers,
with Bank Central Asia  BBCA.JK  hitting its highest in nearly
three months, while Unilever Indonesia  UNVR.JK  gained 0.7%.
    Elswhere, Thai stocks  .SETI  fell for a third straight
session after data showed that the country's customs-cleared
exports declined for a second consecutive month in September.
    Consumer and utilities firms were among the top losers, with
real estate developer Asset World Pcl  AWC.BK  and electricity
generator Gulf Energy Development  GULF.BK  declining 6.1% and
1.2%, respectively.
    Meanwhile, China's central bank on Monday unexpectedly kept
its new benchmark lending rate unchanged, even as data released
last week showed growth in the world's second biggest economy
slowed to its weakest pace in almost three decades in the third
quarter.  urn:newsml:reuters.com:*:nB9N24K02E
    Vietnam stocks  .VNI  fell 0.6%, dragged by heavy losses in
    Bank for Foreign Trade of Vietnam  VCB.HM  and Bank for
Investment and Development of Vietnam  BID.HM  were among the
top losers, slipping 0.9% and 2%, respectively.
    Philippine stocks  .PSI  edged up, while Malaysian shares
 .KLSE  were little changed.
For Asian Companies click;  urn:newsml:reuters.com:*:nTOPEQA  
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3139.15   3114.16         0.80
 Bangkok                1620.78   1631.43         -0.65
 Manila                 7891.13   7885.23         0.07
 Jakarta                6198.987  6191.947        0.11
 Kuala Lumpur           1570.93   1571.15         -0.01
 Ho Chi Minh            983.56    989.2           -0.57
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3139.15   3068.76         2.29
 Bangkok                1620.78   1563.88         3.64
 Manila                 7891.13   7,466.02        5.69
 Jakarta                6198.987  6,194.50        0.07
 Kuala Lumpur           1570.93   1690.58         -7.08
 Ho Chi Minh            983.56    892.54          10.20
 ($1 = 1.3609 Singapore dollars)

 (Reporting by Sameer Manekar in Bengaluru; Editing by Shounak
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