Most Asian markets lost ground on Monday, with many traders likely taking to the sidelines ahead of several central bank decisions this week.
The Japanese benchmark Nikkei 225 ended its positive run last week that added 4.3 percent to the index to close down 133.19 points, or 0.76 percent, at 17,439.30. Across the Korean Strait, the Kospi ended lower by 0.94 points, or 0.05 percent, at 2,014.55. In Hong Kong, the Hang Seng index was off 0.56 percent as of 3:15 p.m. HK/SIN.
Chinese mainland markets also ended lower, with the Shanghai composite shedding 12.27 points, or 0.41 percent, to 2,946.96, and the Shenzhen composite was off by 7.65 points, or 0.41 percent, to 1,859.90.
Markets in Australia and New Zealand are closed for ANZAC day public holiday on Monday.
The U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand (RBNZ) are all set to meet this week. Stephen Innes, a senior trader at OANDA Asia Pacific said, "while most of the focus will center on possible policy action from the BOJ, traders will be looking for forward guidance both from the Fed and RBNZ."
Innes predicts a "very bumpy ride" ahead this week.