Asian stock markets closed mostly lower on Tuesday following losses on Wall Street overnight and as investors fretted over developments in Ukraine and China.
Earlier in the session, major indices swung between gains and losses amid growing hopes that China will unveil fresh stimulus measures to combat slowing economic growth.
"We think the Chinese government has made it quite clear that they are considering accelerating fiscal stimulus but we do not expect any fresh monetary stimulus in the near term. The PBOC may allow the yuan to weaken further, which would provide relief to exporters and keep rates low but that's the extent of monetary adjustments," said Kathy Lien, managing director at BK Asset Management.
Concerns over Crimea also weighed on sentiment after leaders of the G-7 nations said they were ready to impose tougher sanctions on Russia if necessary. Meanwhile, Wall Street shares posted a second straight session of losses after data showed that manufacturing activity slipped in March.