Leading the declines in the region, Singapore shares <.STI> posted their worst fall in two weeks, dragged by the financial and industrial sectors.
Texas Instruments Inc, whose broad lineup of products makes it a proxy for the global chip industry, forecast current-quarter revenue to be well below estimates on Tuesday.
Given that Texas Instruments supplies to a broad range of industries, a weak outlook, along with the mention that the trade war is making customers more cautious, has probably impacted broader sentiment in Asia, said Joel Ng, an analyst at KGI Securities.
The Straits Times index was weighed down by lender United Overseas Bank and industrial conglomerate Jardine Matheson Holdings which fell 0.5% and 1.3%, respectively.
The city-state's core inflation rose slightly less in September than it did in the previous month as it hit a more than three-year low, data showed on Wednesday.
Meanwhile, Indonesia's benchmark index <.JKSE> added 0.5%, posting its ninth straight session of gains, ahead of the central bank's policy meet on Thursday.
Bank Indonesia is expected to cut its benchmark rate by 25 basis points to support the economy, according to analysts polled by Reuters. [nL3N2762MS]
Index heavyweights Bank Rakyat Indonesia and Telekomunikasi Indonesia gained 1% and 0.7%, respectively.
An index of the country's 45 most liquid stocks <.JKLQ45> rose 0.9%.
Risk appetite in the region was also curbed as investors awaited signs of resolution in the prolonged Sino-U.S. trade dispute, amid news reported by Reuters that the U.S. trade adviser to President Donald Trump is set to leave the administration.
Malaysian stocks <.KLSE> fell most in two weeks, dragged lower by the financial and consumer sectors.
Hong Leong Financial Group and Sime Darby Plantation were among the top losers, falling 3.3% and 0.9%, respectively.
Data released on Wednesday showed Malaysia's inflation rising at a slower-than-expected pace in September from a year earlier.
Bank Negara Malaysia, which cut its key interest rate in May for the first time since 2016 amid low inflation and concerns over slowing growth, is set to meet on Nov. 5 for its next monetary policy decision.
The Philippine bourse <.PSI> slipped 0.3%, coming off an over five-week high, as investors locked in gains after rising for the previous two sessions.
Financials and consumer firms were among the top losers, with BDO Unibank and Universal Robina Corp losing 1.1% each.
Thai markets were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3144.28 3160.67 -0.52
Manila 7933.76 7955.24 -0.27
Jakarta 6257.806 6225.497 0.52
Kuala Lumpur 1568.79 1574.09 -0.34
Ho Chi Minh 987.79 987.19 0.06
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3144.28 3068.76 2.46
Bangkok 1631.46 1563.88 4.32
Manila 7933.76 7,466.02 6.26
Jakarta 6257.806 6,194.50 1.02
Kuala Lumpur 1568.79 1690.58 -7.20
Ho Chi Minh 987.79 892.54 10.67
(Reporting by Sameer Manekar in Bengaluru; Editing by Shounak Dasgupta)
By Sameer Manekar