Southeast Asian stock markets rose on Tuesday as risk sentiment improved in Asia following China's monetary easing, with Singapore hitting a near seven-week closing high, a day ahead of the release of manufacturing output data for February. Singapore's Straits Times Index finished up 0.6 percent at 2,682.39, the highest close since January 13.
Stocks in Malaysia and the Philippines both reversed slides of the day before when they hit multi-week closing lows. Vietnam also rebounded with energy shares leading the pack.
Indonesia extended gains for a fifth day, adding 0.2 percent to a near one-month high. Thai stocks climbed 1 percent, recouping from losses in the previous session. Shares of PTT Exploration and Production, the most actively traded, jumped 5.9 percent as oil prices rose over 1 percent on Tuesday.
In a report dated February 29, Nomura said it had upgraded the Thai stock market to 'neutral' from 'underweight', citing cheaper valuations and some improvement in macro economic indicators. Foreign fund flows were positive for most on the first trading day of March. Indonesia, Malaysia and the Philppines brought in net foreign buying worth 65 million ringgit ($15.6 million), 227 billion rupiah ($17 million) and 503 million peso ($10.62 million), stock exchange and Thomson Reuters data showed.
Vietnam's benchmark VN Index advanced 0.39 percent at the close on Tuesday, dragged higher by energy stocks in robust trade amid upbeat global oil prices. PetroVietnam Gas was up 2.11 percent, while PetroVietnam Drilling & Well Services Corp gained 2.4 percent after oil prices rose on Tuesday. As many as 141.4 million shares changed hands, compared with the five-day average of 137.9 million, Reuters data showed.
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