Asian stocks ended Monday mostly lower due to ongoing geopolitical tensions while volumes were light with Japan shut for a public holiday.
Developments over the downing of Malaysia Airlines Flight MH17 continue to be in focus. The United Nations is considering a resolution to demand that armed groups in Ukraine allow international investigators access to the crash site. A vote may come as early as Monday.
Meanwhile, Sunday was one of the bloodiest days in the two-week Israeli offensive in Gaza. Despite heavy casualties, Israeli Prime Minister Benjamin Netanyahu warned that military operations could be expanded.
"With new U.S. sanctions on Russian firms, the downing of a airliner in Ukraine and greater fears of Middle East unrest, markets have been spooked with risk positions pared back. And with fairly light economic data/events early week, we think that geopolitics warrant close watching," said Mizuho Bank in a note.