Most Southeast Asian stock markets posted small gains on Wednesday, with regional big-caps climbing with foreign inflows, but investors remained cautious over the outlook for the global economy. The region generally saw active sessions, with turnover of most bourses rising well above a 30-day average, led by Malaysia and Indonesia.
Stock indexes climbed to reach highs of more than a week at one point but finished lower due to late selling, with Singapore's main share index ending up 0.4 percent and Indonesia eking out a slim gain.
Asian stocks outside of Japan were little changed, rising 0.45 percent by 1019 GMT, while the MSCI index for Southeast Asia was up 0.12 percent.
Data showed a manufacturing slowdown in China and the eurozone and investors were cautious ahead of the end of the Federal Reserve's $600 billion bond-buying programme this month.
The Thai central bank raised interest rate by 25 basis points to 3 percent as broadly anticipated, continuing a tightening cycle to tame rising inflationary pressure.
Thai headline inflation rose in May to 4.19 percent due to surging food prices. Foreign investors continued to buy Southeast Asian stocks on Wednesday, with Indonesia, Malaysia, Thailand and the Philippines reporting inflows on the session.
Big caps advanced, with Singapore Telecommunications, Southeast Asia's biggest telecom firm, rising 1.3 percent, and Indonesia's biggest firm by market value Astra International adding 0.6 percent. Philippine Long Distance Telephone, the country's second most valuable listed firm, gained 3.3 percent, and Thailand's second biggest company, PTT Exploration and Production, edged up 0.9 percent.
In Bangkok, banks fell as investors took profits after the expected rate increase by the Bank of Thailand, with third-ranked Kasikornbank sliding 2 percent. Bank shares had rallied initially, with rising rates seen boosting profit margins.