October 21, 2019 / 10:15 AM / a month ago

SE Asia Stocks-Singapore gains on industrial, property firms; Thailand falls

    * 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 closed up 0.8%.
    On Monday, Singapore state investor Temasek Holdings
         said it was offering to take control of Keppel Corp
 in a $3 billion deal that will shore up support for
the conglomerate, which is battling difficult business
    "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
 rose 10.1%, while shipbuilding unit Sembcorp Marine
 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 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.
    Financial and communication firms were the biggest gainers,
with Bank Central Asia hitting its highest in nearly
three months, while Unilever Indonesia gained 0.7%.
    Elswhere, Thai stocks 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 and electricity
generator Gulf Energy Development 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
    Vietnam stocks fell 0.6%, dragged by heavy losses in
    Bank for Foreign Trade of Vietnam and Bank for
Investment and Development of Vietnam were among the
top losers, slipping 0.9% and 2%, respectively.
    Philippine stocks edged up, while Malaysian shares
 were little changed.
For Asian Companies click;  
 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
Nuestros Estándares:Los principios Thomson Reuters
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