Southeast Asian stocks were mostly dropped on Monday as investors pared their equity holdings following hawkish comments from the US Federal Reserve on interest rate hikes last week.
The US dollar and bond yields have hit multi-year highs after the Fed decision, stoking fears of outflows from emerging markets.
The Philippines fell as much as 1.0 percent to its lowest in almost two weeks with financial and industrial stocks leading the decline.
Bank of the Philippine Islands and property developer SM Prime Holdings Inc were the top drags, falling over 2.0 per cent each.
Consumer cyclical stocks also weighed on the index with quick-service restaurants operator Jollibee Foods Corp falling up to 2.3 per cent to its lowest in nearly 11 months.
Singapore stocks declined as much as 0.9 percent to their lowest since Dec. 1, dragged down by financial and telecom stocks.
Top lender DBS Group Holdings Ltd dropped up to 2.0 per cent, while Singapore Telecommunications Ltd fell as much as 1.9 percent to its lowest in almost a month.
Indonesian shares pared early gains to trade flat.
A state research firm from the world's biggest producer of palm oil said it expected palm oil production to drop 2.3 per cent in 2016.
Vietnam bucked the trend, extending gains into a fourth session, boosted by banking stocks, while Thai shares were flat, according to a news agency report.
-SRS-
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