Most Southeast Asian stock markets closed higher on Tuesday, drawing confidence from gains on Wall Street, with the Philippines and Indonesia climbing more than 1 percent. Asian shares outside Japan held largely steady after surging 1.4 percent in the previous session. Philippine shares closed 1.4 percent higher, reversing earlier losses, with heavyweight SM Investments Corp gaining 3.8 percent.
The country's annual inflation quickened in May but at a slower-than-expected pace, the country's statistics agency said on Tuesday. Indonesian shares extended gains to close 1.2 percent higher, led by materials and telecom stocks. Telekom Indonesia closed 5.2 percent higher, while Indah Kiat Pulp & Paper hit an all-time high. The index of Indonesia's 45 most liquid stocks rose 1.2 percent.
Vietnam shares rose nearly 1 percent in their fourth straight session of gains, buoyed by utilities and consumer staples stocks. Malaysian shares recouped earlier losses to close flat. The country's April exports rose 14 percent from a year earlier, buoyed by strong demand for manufactured goods, government data showed on Tuesday.
Singapore climbed 0.5 percent as bank stocks such as DBS Group Holdings and OCBC extended gains. Thai shares closed 0.7 percent higher, also led by financial stocks. Siam Commercial Bank rose 3.7 percent to its highest level in over six weeks.
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