Sotheast Asia stocks - Rise, Singapore leads gains

(Reuters) - Southeast Asian stock markets closed higher on Thursday, with Singapore leading the gains with a near 1 percent rise, driven by a post-election rally on Wall Street and China's stronger-than-expected October export data.

Wall Street rose 2 percent on Wednesday as investors breathed a sigh of relief following the U.S. midterm elections, betting that a divided Congress would be good news for equities. [MKTS/GLOB]

China reported stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariffs that come into force in January next year.

Exports rose 15.6 percent in October from a year earlier, China's customs data showed.

"Front-loading export activities should continue in November and December. So export growth data will continue to be stronger than in previous holiday seasons," ING wrote in a note to clients.

China is the biggest trade partner for most countries in Southeast Asia.

Investors also awaited the U.S. Federal Reserve's monetary policy decision due later in the day. The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019.

Singapore shares <.STI> gained 0.9 percent, buoyed by industrial and energy stocks.

Keppel Corp closed 1.6 percent higher, while conglomerate Jardine Matheson Holdings rose 3.2 percent.

Thai shares <.SETI> rose for a second straight session, helped by gains in energy stocks as crude oil prices climbed. [O/R]

Index heavyweight PTT PCL gained 1 percent to a one-week closing high, while Thai Oil rose 0.9 percent.

Indonesian shares <.JKSE> rose for an eighth session in a row and posted their highest close since Aug. 31, driven by gains in telecommunication and utility stocks.

Tiphone Mobile Indonesia surged nearly 23 percent to a more than three-month closing high.

Malaysian shares <.KLSE> closed higher for a second consecutive session on the back of telecom stocks.

Telecommunications firm Digi.com climbed 1.4 percent, while Maxis Bhd rose 2 percent.

Philippine shares <.PSI> recovered from a two-week low to close almost flat. Diversified conglomerate San Miguel Corp rose 6.4 percent, while Semirara Mining and Power Corp fell 3 percent.

(Reporting by Nikhil Subba; Editing by Subhranshu Sahu)

By Nikhil Subba