bangkok
SINGAPORE: Southeast Asian stocks ended higher on Wednesday as positive sentiment spilled over from Wall Street and European markets overnight on upbeat factory data from the United States and the euro zone.
US factory activity accelerated to a two-year high in December, while construction spending hit a 10-1/2-year high in November. In the euro zone, manufacturing activity hit the fastest pace in more than five years in December.
Philippine shares rose 2.5 percent to close at their highest in nearly a month on the back of foreign buying.
Foreign investors net bought 184 million pesos worth of stocks on Wednesday.
Telecom and financial stocks led the gains with PLDT Inc firming up nearly 7 percent and Security Bank Corp closing 6 percent higher.
Thai stocks closed at their highest since April 2015, up more than 1 percent, extending gains for a seventh consecutive session.
Energy and basic materials led gains with Bangchak Petroleum PCL gaining 1.5 percent as oil prices edged up on Wednesday while steel company Asia Metal PCL rose 6 percent.
Sentiment in Thailand was also buoyed by a rise in December headline consumer prices for a ninth straight month.
Singapore stocks rose 0.77 percent with casino operator Genting Singapore and energy heavyweight Sembcorp Industries climbing 4.0 percent and 2.5 percent, respectively.
Meanwhile, Indonesian shares recovered early losses to end higher at 0.5 percent with consumer non-cyclicals leading the gains.
Clove cigarette maker Hanjaya Mandala Sampoerna Tbk PT and Unilever Indonesia Tbk PT gained over 3 percent each.- Reuters
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