* 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. "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. 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. Vietnam stocks .VNI fell 0.6%, dragged by heavy losses in
financials.
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; ASIAN STOCK MARKETS
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)