Asian stocks were a mixed bag on Monday, taking some support from expectations of lower U.S. interest rates although Japanese markets retreated amid pressure from the yen and bets on rate hikes by the Bank of Japan.

The yen rose to a three-week high against the dollar on Monday as Federal Reserve Chair Jerome Powell's emphatic dovish shift contrasted sharply with Bank of Japan chief Kazuo Ueda's steadfastly hawkish tone.

Oil prices rose in Asian trade on Monday, extending a rebound from the prior session as media reports showed no progress towards an Israel-Hamas ceasefire while hostilities in the region persisted.

Pavel Durov, a 39-year-old entrepreneur known for creating the instant messaging service Telegram, was arrested Saturday night at Le Bourget airport. According to the charges, which include terrorism, drugs, complicity, fraud, money laundering, he faces up to 20 years in prison.

U.S. stock index futures fell in evening deals on Sunday, cooling after a rally on Wall Street as comments from Federal Reserve officials cemented expectations for a September interest rate cut.

U.S. stocks rose Friday, rebounding after the previous session's losses, with the focus turning to an address by Federal Reserve Chair Jerome Powell for more cues on the bank’s plan to cut interest rates.