Most Southeast Asian stock markets gained on Wednesday amid strength in Asia and oil prices lifting energy-related shares, while the Malaysian benchmark closed at a one-week high on expectations the central bank will keep interest rates on hold. Kuala Lumpur composite index ended the day up 0.5 percent at its highest close since October 28. Banking shares, led by Maybank, edged higher ahead of Bank Negara Malaysia's meeting on Thursday.
A jump in oil prices overnight sent shares of oil and gas services firm Sapurakencana Petroleum 4.6 percent higher. Thailand's biggest energy firm PTT advanced 4.2 percent to highest close since August 14. Thai key SET index rose 0.8 percent to a more than one-week closing high.
The Thai central bank left its key interest rate unchanged, as expected, for a fourth straight meeting on Wednesday, leaving fiscal stimulus and government spending to drive the economy for now. Stocks in Indonesia extended gains for a third day ahead of third-quarter GDP data on Thursday. Analysts in a Reuters poll expected Indonesia's pace of economic growth likely rebounded in the third quarter but was still weak.
Singapore gained for a second straight session, up 1.4 percent at a one-week closing high. Stocks in the Philippines and Vietnam slightly drifted into negative territory. Asian shares surged on Wednesday following gains on Wall Street, with Japanese and Chinese stocks leading the way, while investors' stronger appetite for riskier assets pushed up US debt yields.