Asian shares were a lackluster sight on Monday, with major indexes across the region registering steep declines. Chinese shares in particular suffered a hefty loss of nearly 3 percent.
Investors switched to 'risk-off' mode following disappointing Chinese export data over the weekend. The latest Japanese gross domestic product (GDP) figures further dented trading sentiment across the region.
Commenting on Monday's sluggish tone in Asian equities, Kingsley Jones, Founder and CIO of Jevons Global, told CNBC's Cash Flow, "I think a lot of that (weakness) has to do with the Chinese data released over the weekend. Those weak export numbers got investors a little risk off now. Not forgetting, in the background, there's the brewing situation in Ukraine."
Focus was also on the continued search for a missing Malaysia Airlines flight, which entered its third day on Monday.
China's exports tumbled 18.1 percent while imports rose 10.1 percent from a year earlier, producing a trade deficit of $23 billion for the month of February, data released on Saturday showed.
That compared with market expectations in a Reuters poll of a rise of 6.8 percent in exports, an 8 percent rise in imports and a trade surplus of $14.5 billion.