Trade in Asia's stock markets was relatively quiet on Monday with volume subdued because of holidays in Japan and China while disappointing U.S. economic growth dampened risk appetite.
Markets in Tokyo and Shanghai are closed for the Golden Week public holidays. Japan will resume trade on Tuesday while Shanghai will re-open Thursday.
Australia's S&P ASX 200 closed 10 points shy of Friday's one-month high of 5,135 while Seoul's Kospi crept down 0.2 percent to retreat further from last week's two-week high. In Hong Kong, the index was flat at the 22,530 mark.
Traders say that despite a holiday shortened week, quiet trading sessions are not necessarily in store since the U.S isn't observing any of these holidays.
Furthermore, the week ahead holds several key risk events, with a Fed meeting on Wednesday and U.S. nonfarm payrolls data due Friday. Meanwhile, expectations are high for a rate cut by the European Central Bank on Thursday when it holds a policy meeting.