Most Southeast Asian stock markets edged higher on Thursday, after minutes of the US Federal Reserve meeting indicated that policy tightening might not be as aggressive as previously expected.
Asian shares outside Japan rose 0.3 per cent, to a fresh decade high, while the dollar languished and US treasury yields weakened on expectations of a weaker rate rise cycle ahead, reports Reuters.
However, Singapore shares edged lower on worries of a tighter monetary policy after third-quarter data showed the city-state's economy grew at its fastest pace in nearly four years.
The benchmark index inched down 0.1 per cent as gains in industrials were more than offset by losses in real estate and consumer staples stocks.
Philippine shares rose 0.5 per cent, buoyed by industrial stocks. The Philippine tax reform bill was passed by the lower house of Congress in May. The reform still needs Senate approval.
Indonesian stocks edged lower, while the index of the country's 45 top liquid stocks climbed 0.1 per cent.
Thai shares edged up 0.3 per cent with energy and real estate stocks leading the gains, while Malaysian shares rose, led by financial and industrial stocks.
