Investors were shifting their focus for now from Europe to key events such as the Federal Reserve's monetary policy meeting and U.S. economic data, including jobs, due later this week to gauge the state of the world's largest economy.
Despite easing equity markets, investors' appetite for some riskier assets remained, with Asian credit markets stabilising and easing demand for protection in the options market against losses.
MSCI's broadest index of Asia Pacific shares outside Japan fell 0.2 percent on Monday, after posting its best week in nearly three years as a long-awaited plan to resolve the European debt crisis sparked a huge relief rally.
The Nikkei N225 opened down 0.4 percent, weighed by the yen's persistent strength and worries about Japanese companies' earnings. The dollar briefly fell as low 75.31 yen on electronic trading platform EBS in thin early Asian trade on Monday.
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