Palm plantation firms were among the weaker stocks, with Wilmar International and Golden Agri each dropping more than 3 percent. Hong Kong stocks tumbled to their lowest in more than three month while the MSCI index of Asia Pacific stocks traded outside Japan was down 1.26 percent at 0908 GMT.
Indonesia's index, which earlier hit its lowest since January 11, ended down 1.1 percent, led by banking stocks, as top lender Bank Mandiri and Bank Central Asia both fell more than 3 percent. Malaysia's index hovered around 22-month highs, edging up 0.13 percent, led by Malayan Banking and Axiata Group, which gained more than 1 percent. Malaysia's stock market valuations look stretched but builders and exporters may shine, helped by the recovery in the economy at home and abroad, said Malaysian fund manager Public Mutual.
Thailand's benchmark stock index dropped 1.8 percent to its lowest since December 22. The index fell for a third day after the Chinese curbs on bank lending sparked worries about global growth, while the prospect of political strife at home also soured the mood, analysts said. Ch Karnchang, the second-largest builder, was down 1.7 percent and Siam Commercial Bank lost 1.8 percent. The Philippines inched up 0.06 percent, with Ayala Land up 2.3 percent and Philex Mining up 1.7 percent. Vietnam's index lost 2.3 percent, with Vietcombank down 1.8 percent and Vietnam Dairy 2.6 percent lower.