Asia markets took "sell in May" sentiment to heart on Monday, with the Japanese benchmark index tumbling as much as 4 percent and Australian shares taking a hit from a bank sell-off.
The Nikkei 225 was down 3.72 percent, after initially tumbling 4.14 percent in early trade.
The Japanese market was closed on Friday for a public holiday, but on Thursday, the benchmark index shed 3.61 percent after the Bank of Japan surprised markets by standing pat on its monetary policy.
In South Korea, the Kospi was lower by 0.43 percent. Down Under, the ASX 200 dropped 1.19 percent, with a steep decline of 2.27 percent in the heavily-weighted financials sub-index.
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