Most Southeast Asian stocks rose on Tuesday, led by energy stocks as global oil prices climbed for a second day to a near 6-month high, with Vietnam up 1.5% to hit its highest since July.
Oil traded at around $49 a barrel supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut.
Vietnam closed at a more than nine-month high, riding on energy stocks. The smallest of the six main Southeast Asian markets has gained 6.3% this year as of Monday's close.
"Short-term movements are hard to predict and volatility is always there but I expect the market to remain resilient throughout the rest of 2016," said Dang Van Phap, research manager at Viet Capital Securities.
PetroVietnam Gas finished 6.3% higher, while PetroVietnam Well & Drilling Services Corp was up 6.7%.
Singapore shares closed at a 2-week high, with oil-rig firm Keppel Corp up 4.5% and offshore engineering firm Sembcorp Marine closing nearly 8% higher.
Malaysia rose about 1% ahead of a central bank decision on interest rates on Thursday. SapuraKencana Petroleum was up 1.9%.
Bank Negara Malaysia will likely hold its overnight policy rate at 3.25% on expectations economic growth will improve in the coming quarters, a Reuters poll showed.
Indonesia dipped slightly as financials took a hit, with the Jakarta Finance Index closing more than 1% lower, dragged down by the country's three largest state-controlled banks.
"Given the management guidance, we think the banking sector still poses downside risks, particularly from rising NPL (non-performing loans) and noise on lending rate intervention," Trimegah Securities said in a note.
Broader Asian shares rose, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.9%, extending its recovery from a two-month low set on Friday.