The Manila index climbed 1.2%, extending gains for a fourth straight session and hitting a 2-week closing high.

Financials and industrial sectors boosted the Philippine index, with Ayala Corp gaining 6.5%, and JG Summit Holdings Inc rising 4.3%.

Washington on Monday granted Huawei Technologies Co Ltd a licence to purchase U.S. goods until August 19, a move intended to give telecom operators that rely on the Chinese firm time to make other arrangements.

Friction between the world's largest economies escalated last week after the U.S. Commerce Department blacklisted Huawei, prompting several U.S. firms to suspend business with the Chinese telecom giant.

Meanwhile, news agency Xinhua reported http://www.xinhuanet.com/english/2019-05/21/c_138077868.htm on Tuesday that the Philippine police found no evidence that Huawei was spying for the Chinese government as they conducted an investigation into reports that the firm was involved in espionage.

On the other hand, the Indonesia index declined 0.2% after protests over the outcome of the presidential election erupted in the capital on Wednesday.

The demonstrations come a day after the election commission confirmed that incumbent President Joko Widodo had beaten his challenger, ex-general Prabowo Subianto, in the April 17 poll.

Investors are wary as the political unrest could cause significant problems for Widodo to implement reforms in the nation.

Thai equities advanced 1% as the trade-dependent country reported customs-cleared exports of 2.57% in April from a year earlier, and in line with a Reuters poll forecast.

The country's trade deficit for April came in at $1.46 billion, compared with a forecast of a $490 million deficit, and March's $2 billion surplus.

Data released on Tuesday showed the Thai economy grew at its slowest pace in over four years.

With the country facing growing economic concerns, DBS Bank, in a note to clients, said, "Pressure will build on the Bank of Thailand to reverse the token rate hike undertaken in late-2018."

Singapore stocks ended flat ahead of the island's inflation data due on Thursday.

A Reuters poll expects the country's core inflation in April to rise 1.3% from a year earlier, down slightly from the 1.4% rise in the prior month.

The Malaysian markets were closed for a holiday.

(Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

By Niyati Shetty