SE Asian stocks largely up

Southeast Asian stock markets were largely up on Tuesday as a rise in oil prices and growth in Chinese manufacturing activity brought some optimism.

The investors continued to exercise caution ahead of next week`s US presidential election.

Oil prices rose from one-month lows after OPEC agreed on a long-term strategy, while China`s manufacturing sector activity grew at the fastest pace in more than two years in October.

The market is also watching the outcome of the US Federal Reserve`s Federal Open Market Committee (FOMC) meeting, which begins on Tuesday, with investors looking for clues on a December rate hike.

The Bank of Japan (BOJ) held off on expanding stimulus and maintained short-term interest rate target at -0.1 per cent, in line with expectations.

Singapore recovered from two sessions of losses, rising about 0.5 per cent, led by financial and telecom stocks.

Oversea-Chinese Banking Corp Ltd contributed most to the index`s gain, rising more than 1.0 per cent after two sessions of losses.

Singapore Telecommunications Ltd was the second biggest gainer by points, rising as much as 1.3 per cent.

Thailand extended gains to a second session, rising about half a percent, led by energy stocks and financials.

Thai Oil Pcl rose as much as 4.3 per cent to its highest in more than three years while Banpu Pcl rose nearly 5.0 per cent.

Malaysia, Indonesia and Vietnam were largely flat.

Philippines is closed for All Saints` Day, according to a news agency report.