Asian shares were mixed on Tuesday while liquidity was thin with Japanese markets shut for a public holiday.
Caution set in as the U.S. and Europe slapped more sanctions on Russia on Monday, including visa bans on those close to President Vladimir Putin. 17 companies and 7 individuals in all were U.S. targets in this round of sanctions, which come amid mounting tension over eastern Ukraine. Armed pro-Russian rebels broke up a rally in support of Kiev in the regional capital of Donetsk, injuring several people.
Investors will also be looking ahead to a policy meeting by the Federal Open Market Committee, which starts later on Tuesday. The two-day review culminates with a press conference by Fed Chair Janet Yellen and market watchers will be looking for any signs of when interest rates could rise ahead of Friday's non-farms payroll (NFP) report for April.