Asian markets were broadly negative on Monday, amid reports over the weekend that the U.S. could be imposing new tariffs on $200 billion of Chinese goods as early as this week.
In South Korea, the Kospi recovered slightly from its earlier losses but still ended the trading day lower by 0.66 percent at 2,303.01, with industry heavyweight Samsung Electronics sliding 1.53 percent.
The Greater China markets also saw losses, with Hong Kong's Hang Seng index dropping 1.4 percent as of 3:07 p.m. HK/SIN. Over on the mainland, the Shanghai composite closed 1.11 percent lower at 2,651.79 while the Shenzhen composite fell 1.535 percent to close at 1,380.98.
Down Under, the ASX 200 bucked the overall trend to close higher by 0.32 percent, as the financial sector gained by 0.62 percent. National Australia Bank's shares gained 0.77 percent following an earlier announcement regarding the departure of a top executive at its consumer banking division.