(Jan 23): Singapore stocks touched their highest in over 14 months on Monday after encouraging consumer price data, while the Philippines closed at its highest in three months on positive economic sentiment.

Singapore stocks ended 0.5% up — their highest close since November 2015 — as the annual headline consumer price index in December gained for the first time in more than two years.

The all-items CPI rose 0.2% from a year earlier to mark its first year on year rise since October 2014.

Rig builder Sembcorp Industries climbed as much as 3.2% to hit a 10-month high and while Genting Singapore surged more than 2%.

Philippine stocks ended up nearly 2% on upbeat investor sentiment after an agreement with China to co-operate on 30 projects worth US$3.7 billion for poverty reduction.

"People have become more rational in terms of their thoughts about the economy, plans of increased infrastructure spending, lower tax constraints for corporates, deals with China, and investments from China and Japan have increased the general optimism about this administration," said Richard Llaneda of Eagle Equities.

Conglomerate SM Investments jumped as much as 5.4% to touch a more-than-five-month closing high.

Philippines fourth-quarter GDP is due later this week. "Economists have been raising the growth target for the GDP, adding to the increasing optimism," said Llaneda.

Malaysian stocks rose 0.4%, shrugging off a forecast of a decline in palm oil prices by nearly a quarter by June or July by leading analyst Dorab Mistry.

Industrial giant Sime Darby rose 2.1% to close at its highest in nearly 15 months.

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