Singapore shares rose nearly 1 percent on Monday, outperforming other Southeast Asian markets, as positive Chinese factory gauges and signs of progress in Sino-US trade talks boosted investor sentiment, while Philippines stocks declined after two straight sessions of gains.
China's manufacturing sector unexpectedly returned to growth for the first time in four months in March, in a sign that government stimulus measures may be slowly gaining traction, a private business survey showed.
Singapore's benchmark stock index gained as much as 0.9 percent to its highest since March 6, boosted by technology and utility stocks.
City Development Ltd and Hutchison Port Holdings Trust gained the most, rising 2.5 percent and 2.3 percent, respectively.
Thai stocks rose 0.6 percent, supported by energy and healthcare stocks. PTT Pcl firmed 0.5 percent and Bangkok Dusit Medical Services Pcl added 1.8 percent.
Thailand's annual headline consumer price index rose 1.24 percent in March, beating a 0.93 percent rise forecast in a Reuters poll, and compared with February's 0.73 percent increase, commerce ministry data showed.
The headline inflation rate was the highest since September 2018 and was within the central bank's target range of 1-4 percent after staying below that for four consecutive months.
Meanwhile, Philippine stocks were the top losers in Southeast Asia with a drop of 0.8 percent.
Commodity prices may rise amid signs of a recovery in the Chinese economy, and a major rise in oil and commodity prices would affect the Philippines as it is a net importer of energy, said Rachelle C Cruz, an analyst with AP Securities.
Ayala Corp dropped 1.2 percent, while BDO Unibank Inc shed 1.3 percent.
Indonesian shares declined marginally, dragged by telecom and financial stocks.
Indonesia's annual inflation rate slowed a touch more than expected in March to slip below the central bank's target range for the first time in three years, official data showed.
Telekomunikasi Indonesia and Bank Central Asia Tbk Pt slipped 0.8 percent and 0.9 percent, respectively.
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