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Most Southeast Asian stock markets advanced on Tuesday as disappointing China factory data stoked optimism that Beijing would continue to provide policy stimulus to boost growth. Official data showed that manufacturing activity in the world's second-largest economy expanded for a second straight month in April but at a much slower pace.
"What we are seeing is that bad news is good news because ... there is a fair amount of expectation that the Chinese government will come in to rescue the day," said Taye Shim, head of research, Mirae Asset Sekuritas.
Philippine shares climbed 0.7 percent to their highest close since April 11 and were the best performer in Southeast Asia.
Real estate stocks dominated the gains, with SM Prime Holdings Inc firming 2.4 percent, while Ayala Land Inc rose 0.9 percent.
Investors now await the US Federal Reserve's two-day policy meeting, which starts later in the day.
Thai shares rose the most in nearly two weeks as the country's cabinet approved economic measures worth 21.8 billion baht ($682.96 million) in a bid to support a slowing economy weighed down by weaker exports.
The main stock index gained 2.1 percent for the month.
Charoen Pokphand Foods PCL and Airports of Thailand PCL gained 4.8 percent and 0.7 percent, respectively and were the biggest boosts to the benchmark index.
Indonesian stocks climbed 0.5 percent, while Malaysian shares closed 0.3 percent higher.
Singapore shares ticked lower after recording sharp gains in the previous session. The index still gained 5.8 percent in April, the most in the region.
The Vietnam stock market was closed for a holiday.

Copyright Reuters, 2019

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