Asian shares were off to a cautious start on Monday as investors pinned their hopes on any signs of a thaw in Sino-US trade negotiations while oil prices firmed on worries over heightened tensions between the United States and Iran.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.16 percent in early trade while Japan’s Nikkei ticked down 0.26 percent.

WallStreet shares closed slightly lower on Friday after hitting a record high thanks to signals last week from the Federal Reserve that it would cut interest rates soon to bolster its economy from protracted trade conflicts.