Southeast Asian stock markets rose on Tuesday as expectations of a possible delayed hike in US interest rates bolstered stock market sentiment globally, with the Philippine main index touching a record closing high for a seventh straight trading day.
The Philippine main index ended up 0.6 per cent at 8,098.68, topping Monday's sixth straight record close of 8,053.74, as the country's annual inflation rate rose slower than expected in March, giving the central bank more leeway to keep policy rates steady.
Among outperformers, Malaysia's key index extended gains for a fourth session, up 0.7 per cent at 1,856.51, the highest close since September.
The rally sent it to an overbought territory, with the 14-day Relative Strength Index (RSI) jumping to 71.29 from Monday's 66.9.
A level of 70 or higher indicates the market is overbought.
Global stocks rose on Tuesday, as many European bourses re-opening after the Easter break took on the positive tone set by US markets overnight, with sentiment boosted by a potential trans-Atlantic acquisition.