Asian markets ended mostly lower on Monday, tracking Wall Street’s fall last Friday on concerns over escalating war in the Middle East and its impact on energy prices, inflation, economic growth and monetary policy. The Middle East conflict has entered its third week with no signs of immediate de-escalation. The US attacked military targets on Iran’s main oil-export hub of Kharg Island over the weekend, while reports suggested that the United States will soon announce a coalition of countries to escort ships through the Strait of Hormuz. Chinese shares declined ahead of the upcoming meeting between president Xi Jinping and Donald Trump later this month. Japanese market declined ahead of Bank of Japan's policy meeting this week, with expectations to keep its benchmark interest rate steady at 0.75% amid the conflict. Meanwhile, Japanese Defense Minister Shinjiro Koizumi said the country currently has no plans to deploy warships to the strait of Hormuz despite US President Donald Trump’s call for allies to help secure the Strait of Hormuz.