SE Asia Stocks-CIMB surges in Malaysia as merger talks flounder
BANGKOK, Jan 13 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, with a rally in shares of Malaysia's CIMB Group Holdings helping the index rise to a more than one-week high, while investors bought select shares in the results season. Kuala Lumpur's composite index extended gains for a fourth session, ending the day up 0.8 percent at 1,748.90, its highest close since Jan. 2. CIMB shares surged 14.3 percent, its best single-day gain since February 2001 and the biggest percentage gainer on the index. The stock ended at 5.92 ringgit, its highest close since Nov. 19. Malaysia's proposed $20 billion merger to create the nation's biggest bank is likely to be scrapped after CIMB and RHB Capital failed to agree on new deal terms, people familiar with the matter told Reuters. Indonesia's Bank Negara climbed 1.2 percent ahead of the release of its full-year 2014 earnings report, likely to be the first bank to announce results, a broker said. In Bangkok, shares of Siam Commercial Bank inched up 0.3 percent before fourth-quarter results due next week while the broader SET index recovered from losses earlier in the day to close 0.3 percent higher. Persistent weakness in oil prices weighed on energy-related shares across the region, with Singapore's Keppel Corp sliding 1.5 percent and Thailand's PTT Exploration and Production ending 2.7 percent lower. Stocks in the Philippines rebounded from the previous session's decline, closing at 7,399, just shy of its record closing high on Jan. 9. Foreign investors bought shares worth a net 956 million peso ($21.36 million) for the third straight session. Trading volumes were at about 80 percent a full day's average over the past 30 sessions. Investors stayed on the sidelines in a shortened trading week, with the Philippine stock market shut on Thursday and Friday for a public holiday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3341.07 3344.89 -0.11 Kuala Lumpur 1748.90 1735.08 +0.80 Bangkok 1534.97 1531.21 +0.25 Jakarta 5214.36 5187.93 +0.51 Manila 7399.00 7358.36 +0.55 Ho Chi Minh 580.60 574.32 +1.09 Change on year Market Current End 2014 Pct Move Singapore 3341.07 3365.15 -0.72 Kuala Lumpur 1748.90 1761.25 -0.70 Bangkok 1534.97 1497.67 +2.49 Jakarta 5214.36 5226.95 -0.24 Manila 7399.00 7230.57 +2.33 Ho Chi Minh 580.60 545.63 +6.41 ($1 = 44.7600 Philippine pesos) (Reporting by Viparat Jantraprap; Additional reporting by Erik dela Cruz in Manila; Editing by Biju Dwarakanath)
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