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Asian stocks cut early gains as investor caution grew before a news conference by President-elect Donald Trump on Wednesday, where his views on global trade and China will be carefully scrutinized for future policy implications.
The dollar stood tall against rivals on Monday after the latest U.S. payrolls data indicated strong underlying wage growth, strengthening the case for more rate increases in 2017.
MSCI's ex-Japan Asia-Pacific shares index (MIAPJ0000PUS) was flat on the day, having risen as much as 0.5 percent after posting a rare loss in the previous session. Australia's S&P/ASX200 (AXJO) rose 0.9 percent while Hong Kong shares (HSI) rose 0.2 percent. Trading was light because Japan is shut for a holiday.
The caution in Asia is expected to ripple into European markets with futures pointing to a cautious start for various exchanges.
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