In the United States on Wednesday, the S&P 500 index rose above 2,700 for the first time and other major indexes hit record closing highs. "Continued gains from the US stock markets, which posted new record highs, have spilled over to the regional markets," said Manny Cruz, an analyst at Asiasec Equities Inc in Manila. "If the US markets continue to rally, that should accelerate the Asian equities."
Thai shares rose 0.7 percent following gains of over 1 percent on Wednesday. Energy stocks led the gainers, underpinned by oil prices which hit their highest in more than 30 months, with PTT touching a record closing high and PTT Exploration and Production climbing 4.4 percent.
Singapore shares rose more than 1 percent to their highest since April 2015, with financials outperforming other sectors. Index heavyweights DBS Group Holdings Ltd and Oversea-Chinese Banking Corp Ltd hit record closing highs.
The Malaysian index climbed to a more than 30-month high, led by gains in Sime Darby Bhd which surged 11.2 percent. The Philippine index extended gains after rising nearly 2 percent in the previous session, ahead of the release of inflation data on Friday.
Philippine consumer prices increased in December at the same annual pace as the previous month, a Reuters poll showed, holding the year's average within the 2-4 percent target range. Indonesian shares bounced back from losses earlier in the session to close 0.7 percent higher, while Vietnam ended the day up 1.4 percent.