Asian shares fell on Monday with the absence of a lead from Wall Street last week due to the Easter holidays. Trading volumes were thin with Australian, New Zealand and Hong Kong markets shut for the long weekend.
Geopolitical risk was in focus following a gun attack in the eastern part of Ukraine. Pro-Russian separatists near the city of Slaviansk said three of their men were killed, reportedly by an ultra-nationalist Ukrainian group.
"With the week kicking off with Easter Monday, markets may not be in full-swing yet. But clearly geo-political risks remain on the radar, and this will continue to factor into U.S. treasury yields, risk appetite and the U.S. dollar amongst others," said analysts at Mizuho Bank in a note.