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SE Asia Stocks-Most up; Singapore hits 7-mth high on share deal

Photo by CapitaLand

HANOI, April 15 (Reuters) - Most Southeast Asian stocks

gained on Tuesday, led by the Singapore market which rose on

news of a $2.45 billion share buying plan by the region's

biggest property developer, while Vietnam retreated as investors

cut their losses.

Shares of CapitaMalls Asia surged 21.33 percent to

a 14-month closing high after Southeast Asia's biggest property

developer CapitaLand Ltd offered to buy out minority

shareholders in the Singapore-listed shopping mall operator.

The deal is aimed at simplifying CapitaLand's corporate

structure and taking advantage of a discount valuation at

CapitaMalls. CapitaLand shares also jumped 6.51 percent.

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The Straits Times Index climbed 0.98 percent to

close at 3246.32, the highest since September last year.

Shares in other markets also rose, with Indonesia up

0.11 percent, Malaysia rising 0.13 percent and the

Philippine benchmark advancing 0.49 percent.

However, the Vietnamese market tumbled due to wide-ranging

offloading of equities as investors cut losses on expectations

of further declines. The VN Index marked a fourth

straight fall to close down 1.68 percent, near a two-week low.

The Thai market was closed for a public holiday and will

reopen on Wednesday.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Prev Close Pct Move

TR SE Asia Index* 418.07 415.91 +0.52

Singapore 3246.32 3214.83 +0.98

Kuala Lumpur 1853.88 1851.53 +0.13

Jakarta 4870.22 4864.88 +0.11

Manila 6621.66 6589.55 +0.49

Ho Chi Minh 586.09 596.11 -1.68

Change on year

Market Current End 2013 Pct Move

TR SE Asia Index* 418.07 388.37 +7.68

Singapore 3246.32 3167.43 +2.49

Kuala Lumpur 1853.88 1866.96 -0.70

Bangkok 1389.16 1298.71 +6.96

Jakarta 4870.22 4274.18 +13.95

Manila 6621.66 5889.83 +12.43

Ho Chi Minh 586.09 504.63 +16.14

* 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 Anupama Dwivedi)