Taiwan's Shin Kong Financial jumps on CTBC merger bid
** Shares of Taiwan financial conglomerate Shin Kong Financial Holding 2888.TW open as much as 4.4% higher, after rival CTBC 2891.TW raises its bid for the company to T$131.4 billion ($4.14 billion)
** CTBC Financial late on Friday raised its bid for Shin Kong to a 51% stake of the company, challenging an existing plan for its smaller rival to merge with Taishin Financial 2887.TW
** Shares of CTBC open down 0.45%
** Taiwan's benchmark weighted Index .TWII opens up 0.4%
** CTBC said they would have to spend T$131.4 billion ($4.1 billion) for the bid
** CTBC said it had upped its purchase plans from a 25% stake, at a price of T$14.55 per share
($1 = 31.7700 Taiwan dollars)
Reporting by Faith Hung
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