Asia stocks eased on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve, while heightened Middle East tensions following an Iranian seizure of a British tanker lifted crude oil prices.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1%.
South Korea's shed 0.3%, Australian stocks lost 0.2% and Japan's Nikkei fell 0.5%.
Global equity markets had risen briefly towards the end of last week after dovish comments by New York Fed President John Williams boosted the prospect of the central bank lowering rates by 50 basis points at its July 30-31 meeting.
Source : Reuters