Shares in Singapore, Malaysia and Thailand edged lower after a rangebound session and light trade on Monday, wary of global economic outlook, while lingering concerns over risks in the banking system further depressed Vietnamese stocks. The Ho Chi Minh Stock Exchange's VN Index dropped 3.4 percent to 386.19 points, the lowest close since January 30, led down by financial stocks. It lost 7.8 percent last week but was still up 9.9 percent this year.
The arrest of Asia Commercial Bank's co-founder Nguyen Duc Kien on August 20 and then of chief executive Ly Xuan Hai on August 23 have kept market investors cautious about spreading financial risks. Elsewhere, Indonesia Stock Exchange halted trading on Monday due to technical problems. The Philippines was shut for a market holiday, reopening on Tuesday.