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SE Asia Stocks-Mixed; Singapore outperforms

HANOI, April 24 (Reuters) - Southeast Asian stocks were

mixed on Thursday, with Singapore's Straits Times Index

rebounding 0.55 percent from a profit-taking session, led by

gains in SingTel, the city state's biggest listed firm by market

capitalisation.

Singapore Telecommunications Ltd (SingTel) was the

top gainer with shares advancing as much as 1.62 percent to

their highest since Dec. 2, 2013 in early trade.

"It has been quiet for a while, while the rest of index has

moved up, especially commodities, then property recently," said

broker Chew Kuan Yee with CIMB.

SingTel has gained around 2.5 percent since the beginning of

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this year against the Straits Times Index's 3.4 percent rise,

Reuters data showed.

The index is likely to continue rising on inflows from

developed to emerging markets, where there were sell-outs during

the first few months of 2014, Kuan Yee added.

Bangkok's SET Index was up 0.08 percent, hovering

around its critical resistance level, while analysts expect it

to face a correction soon.

"There is no fundamental support for this rally... We see

visible signs of a slowdown even on companies that we have a

positive view on," Maybank Kim Eng said in a note to clients.

Stocks in Indonesia edged up 0.11 percent, while the

Philippine index, Southeast Asia's best performer, lost

0.57 percent at 6,731.23.

Malaysia and Vietnam dipped 0.07 percent

each.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0540 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 421.26 420.47 +0.19

Singapore 3276.02 3258.01 +0.55

Kuala Lumpur 1866.04 1867.35 -0.07

Bangkok 1424.59 1423.39 +0.08

Jakarta 4898.62 4893.15 +0.11

Manila 6731.23 6769.52 -0.57

Ho Chi Minh 568.98 569.36 -0.07

* The Thomson Reuters South East Asia Index is a

highly representative indicator of stocks listed in Indonesia,

Malaysia, the Philippines, Singapore, Thailand and Vietnam.

(Reporting by Mai Nguyen; Editing by Subhranshu Sahu)