The Stock Exchange of Thailand index on Wednesday recovered from a nine-month low hit in the previous session helped by gains in material and energy stocks, while Indonesian shares slipped nearly 2% on Wednesday.
The SET index ended 1.51% higher as heavyweights PTT Plc and PTT Exploration and Production Plc gained 2.1% and 5.1%, respectively. The index rose 24.72 points to close at 1,664.26, in trade worth 60 billion baht.
The Bank of Thailand on Wednesday left its benchmark one-day repurchase rate unchanged, a quarter-point above the record low as widely expected, and raised its 2018 economic growth forecast.
Indonesian shares posted their lowest close in nearly a month, weighed down by financials, while an index of the country's 45 most liquid stocks slid 2.7%.
Bank Central Asia Tbk PT closed 3.4% lower while Bank Mandiri (Persero) Tbk PT shed 3.6%. Unilever Indonesia Tbk PT slipped 2.5%.
The ongoing trade spat between the United States and China has seen investors in the region adopt a "wait-and-see approach", said Stephen Innes, head of trading for Asia Pacific, Oanda in a note.
"The spoils of a trade war have attracted bargain-hunting."
The Philippine central bank raised its benchmark interest rate by 25 basis points to keep a lid on inflationary pressures and bolster the fragile peso.
The Philippine peso slid over 0.3% to hover around a 12-year low hit on Monday.
Philippine shares extended losses to a fifth session as JG Summit Holdings Inc and Aboitiz Equity Ventures Inc shed 4.4% and 3.9%, respectively. The index has lost 15.2% so far this year.
Vietnam shares closed nearly 2% higher following two sessions of losses while Malaysian shares extended losses to an eighth session.
