Singapore shares edged up to their highest in 16 months on Monday while most other Southeast Asian stocks also ended higher on optimism over the rising factory output growth in China and falling unemployment rate in the United States. However, concern over a fresh bout of euro zone uncertainty after a decision by Italian prime minister to resign capped the gains.
Singapore edged up 0.2 percent to its highest since August 4, 2011, while Malaysia rose 0.9 percent to a four-week high, with a $11.14 million net foreign inflow. Indonesia added 0.3 percent to its highest close since November 27, led by finance shares. Bank Central Asia Tbk PT gained 4 percent despite the broad market seeing a net foreign selling of $24.9 million. Vietnam ended 0.8 percent higher, while the Philippines, bucked the trend to fall 0.6 percent.