In Hong Kong, the benchmark Hang Seng Index fell 29 points, or 0.12 percent, to open at 25,436.
The China enterprises index was up 10 points, or 0.1 percent, at 8,682 while the tech index was 10 points, or 0.2 percent, up at 4,988.
Up north, the benchmark Shanghai Composite Index was down 0.08 percent at 4,092.
The Shenzhen Component Index opened 0.07 percent higher at 14,291 while the ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, was up 0.41 percent at 3,323.
In a possible hint of hope, the Wall Street Journal reported the Trump administration plans to announce as early as this week that multiple countries have agreed to form a coalition to escort ships through the Strait of Hormuz.
US President Donald Trump told the Financial Times it would be very bad for the future of Nato if the allies did not help.
European Union foreign ministers will discuss on Monday bolstering a small naval mission in the Middle East, though any operation in the Strait would be fraught with risk.
Oil markets were cautious as Brent rose 0.1 percent to US$103 a barrel while US crude fell 0.7 percent to almost US$99.
Policymakers in the US, UK, Europe, Japan, Australia, Canada, Switzerland and Sweden hold their first full meetings since the start of the war, with energy prices looming over all of them.
“Central bank forecasts will immediately bias towards higher inflation and lower growth,” said Bruce Kasman, chief economist at JPMorgan. “Consistent with this view, we have pushed back or removed action for most central banks that were expected to move in March and April.”
“Developments on the ground highlight the potential for further price increases and the likelihood that the risk premium will remain elevated.”
Japan’s Nikkei dipped 0.1 percent while South Korean stocks added 0.9 percent after both lost ground last week. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent.
Regionally, the focus will be on Chinese economic data out on Monday.
Top Chinese and US officials are also meeting in Paris to discuss potential deals in agriculture, critical minerals and managed trade for President Xi Jinping and Trump to consider in Beijing.
The Federal Reserve is considered certain to hold on Wednesday and the chance of an easing by June has come down to just 26 percent, from 69 percent a month earlier.
A cautiously steady outcome is expected at all the other central bank meetings, bar the Reserve Bank of Australia which is seen likely to hike its cash rate a quarter point to 4.1 percent as it battles resurgent inflation at home. (Reuters/Xinhua)
Edited by Raymond Yeung
