Singapore's Straits Times Index fell 0.9 percent after Wednesday's 1.6 percent drop.
SINGAPORE: Most Southeast Asian stock markets rose on Tuesday, with Singapore striking an over two-year high and Vietnam hitting its highest in nearly a decade, in line with Asian peers.
Wall Street ended Monday higher with all three equity indices closing at record highs on talks about potential merger activity, and speculations about Republicans cutting corporate taxes, that would boost earnings.
The positive sentiment spilled over to Asia with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.8 percent to a 10-year high.
Energy stocks gained across the board in Southeast Asia as oil hit an over 2-1/2 year high overnight.
The Singapore benchmark index hit an over two-year high, buoyed by lenders. DBS Group Holdings, up 4 percent, was the top gainer. Oversea-Chinese Bank and United Overseas Bank gained over 1 percent each.
Vietnam was 0.4 percent higher at an over 9-1/2 year high, led by real estate and industrial sectors.
Vingroup JSC rose 2.6 percent to a record high, while Saigon Machinery Spare Parts Joint Stock Company climbed 7 percent.
Thailand edged 0.3 percent higher, boosted by energy stocks. Petroleum explorer PTT Exploration and Production Public, up 2.2 percent, was the top gainer, while PTT Public Company rose 1 percent.
Philippines shares were flat after the country's October inflation rate quickened to a three-year high, led by higher fuel prices and a weaker peso.
Malaysian shares edged 0.2 percent higher led by consumer discretionary stocks. Genting Berhad
rose 2 percent while with YTL Corporation Berhad jumped 2.4 percent. - Reuters
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