Southeast Asian stocks were up on Tuesday, recovering from losses on Monday, following the GOP stumble on health care. Investors have moved on as they look to the White House’s stimulus plans for encouragement.
Singapore led gains, up almost 1%, followed by the Philippines, Malaysia, and Thailand, which were up as much as 0.8%, 0.7% and 0.5%, respectively, reports Reuters. MSCI’s Asia-Pacific index ex-Japan rose as much as 0.7%.
E-commerce logistics service provider Singapore Post Ltd shares were up as much as 1.5%, after it signed a deal with CapitaLand (+1.4%) to manage a retail mall. Malaysian stocks were buoyed by consumer discretionary and utility sectors, while Thailand gains were led by industrial and financial stocks.