Singapore shares <.STI> rose up to 1.7 percent after two straight sessions of falls, with financials and industrials leading the bounceback. They declined about 4.5 percent last week in their second straight weekly drop.

"In the case of Singapore, we have been sharing much of the downside, but not the upside. As valuations remain attractive in Singapore, it's not surprising to find bargain hunting after the recent selloff," said Liu Jinshu, director of research at NRA Capital, referring to last week's rout.

Investor sentiment was also upbeat after data showed Singapore's non-oil domestic exports growth accelerated in September, led by a jump in pharmaceutical shipments. [nS7N1SV04A]

Jardine Matheson Holdings Ltd gained 1.7 percent, while United Overseas Bank Ltd climbed 2 percent.

Philippine shares <.PSI> rose 2 percent to a near two-week high, helped by financials. BDO Unibank Inc gained 3.6 percent, while Bank of the Philippine Islands climbed 3 percent.

"Investors are taking advantage of cheap buy-aways from the PSI, given that they have retreated two standard deviations below its mean... We might reach up the resistance level again, the valuations are getting attractive for the Philippines," said AB Capital Securities analyst Lexter Azurin.

Indonesian shares <.JKSE> gained up to 0.5 percent, boosted by telecom stocks.

Telekomunikasi Indonesia Tbk climbed 1.6 percent, while Indah Kiat Pulp and Paper Tbk rose 7.6 percent.

Malaysian shares <.KLSE> edged higher, helped by tourist resort operator Genting Malaysia Berhad and airport services provider Malaysia Airports Holdings Bhd.

Vietnam shares <.VNI> jumped 0.8 percent, boosted by financial and real estate stocks. Vietnam Technological and Commercial Joint Stock Bank rose 2.1 percent, while Vinhomes Joint Stock Co gained 3.2 percent.

Asian equities also got some welcome relief after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.[MKTS/GLOB]

(Reporting by Rashmi Ashok; Editing by Subhranshu Sahu)

By Rashmi Ashok