The Stock Exchange of Thailand index dropped, while Philippine stocks rose for a second session in a row on Monday.
The SET index fell 11.26 points or 0.67% to 1,670.58, in turnover of 38 billion baht. The Thai shares were dragged by oil stocks as crude prices fell further.
Star Petroleum Refining Plc was one of the biggest losers among energy stocks, declining 4.9% to its lowest in 1-1/2 weeks.
Philippine shares closed 1% higher, helped by gains primarily in the financial sector. SM Investments Corp rose over 1% to its highest close since Sept 17, while LT Group Inc gained 2.48%.
Singapore's Straits Times index closed 1.8% lower, making it the biggest loser in Southeast Asia.
Financials and industrials were the top losers. DBS Group Holdings was the biggest drag on the benchmark with a drop of 2.8% after the lender posted quarterly profit slightly below estimates, flagging trade war worries and property cooling measures likely to hold back its loan book growth next year.
Asian stocks skidded on fears of faster rate hikes in the United States and uncertainty around the Sino-US trade war.
The US Labor Department released robust economic data for October on Friday, raising the possibility of another interest rate hike in December, which could hinder global economic growth.
Investors were also worried about the trade spat between the world's top two economies after White House's top economic adviser said on Friday that Washington and China were not close to a deal to resolve their trade differences.
In other Southeast Asian markets, Indonesian shares closed marginally higher, after trading lower through most parts of the day on data showing slow GDP growth in the third quarter.
Gross domestic product (GDP) expanded 5.17% in the July-September quarter from a year earlier, compared with a 5.15% expansion expected in a Reuters poll and the second quarter's 5.27%.
This points to tougher conditions for the Southeast Asian economy which has struggled with capital outflows and weaker exports and household spending.
Bank Central Asia was the biggest boost, rising about 1%.
Malaysian shares ended lower after the government chalked out a wider fiscal deficit target for the year, the highest in five years.