South Korea pledged on Monday a record amount of financing support for exporters to mitigate any negative impact from changes in U.S. trade policies as Donald Trump was poised to be sworn in for his second presidency.
Japan stocks were higher after the close on Monday, as gains in the Power, Finance & Investment and Steel sectors led shares higher.
Japan's core machinery orders rose 3.4% in November from the previous month to beat analysts' forecast, government data showed on Monday, signalling a recovery in capital expenditure ahead of a central bank interest rate review later this week.
The Bank of Japan is expected to raise interest rates on Friday barring any market shocks when U.S. President-elect Donald Trump takes office, a move that would lift short-term borrowing costs to levels unseen since the 2008 global financial crisis.
Oil prices fell on Monday as expectations of U.S. President-elect Donald Trump relaxing curbs on Russia's energy sector in exchange for a deal to end the Ukraine war offset concern of supply disruption from harsher sanctions.
The dollar was on the defensive at the start of a pivotal week on Monday as Donald Trump returns to the White House, with his inauguration speech later in the day the primary focus for investors hoping to decipher his immediate policies.