The shock results from Greece's referendum on Sunday sent markets into a tailspin during Asian trade on Monday.
Chinese stocks were on fire on Monday after Beijing pulled out fresh stops to put a floor under share prices, but strategists remain on edge.
Shares in Japan's Toshiba fell 5 per cent on fears that an ongoing third-party investigation into past accounting practices found more irregularities.
Asian markets are bracing for a turbulent week as central bank decisions and economic data on tap will likely add to the uncertainty over Greece.
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Jesper Bargmann, head of Trading, Asia at Nordea Markets, says the rise in political tensions, alongside global uncertainty, will curb investors' appetite for the Malaysian ringgit.
Don Hanna, managing director at Hanna-Roubini Global Economics, explains why the European Central Bank (ECB) plays a key role in the debt talks between Greece and its creditors moving forward.
Tony Nash, chief economist at Complete Intelligence, says Greece will remain in the euro zone even as voters rejected harsh bailout conditions in a crucial referendum held on Sunday.