US Commerce Secretary Wilbur Ross predicted on Monday that Beijing and Washington could reach a deal that "we can live with" as officials from the world's top two economies hold negotiations in China.
China's Foreign Ministry said Beijing had the "good faith" to work with the United States to resolve trade frictions.
Philippine stocks closed 1.1 percent lower, snapping four straight sessions of gains.
Financial and real estate stocks were the top losers, with Ayala Corp and SM Prime Holdings Inc declining 2.8 percent and 2.3 percent, respectively.
Indonesian shares skidded 0.4 percent, hurt by consumer stocks. Unilever Indonesia Tbk PT fell 2.6 percent, while cigarette maker Gudang Garam Tbk PT dropped 1.7 percent.
An index of the country's 45 most liquid stocks retreated 0.5 percent. Meanwhile, Singapore shares closed higher for a third consecutive session. DBS Group Holdings Ltd advanced 0.7 percent, while Oversea-Chinese Banking Corp Ltd gained 1.1 percent.