Even so, Ishiba then faces the prospect of running a fragile minority government as protectionist Donald Trump regains control in Japan's main ally the U.S., tensions rise with rivals China and North Korea, and public pressure mounts at home to tackle a cost of living crunch.

Japan’s parliament is set to elect a prime minister Monday in a mid-afternoon vote that’s likely to keep Shigeru Ishiba in the job despite a national election setback, as the premier prepares for an expected meeting with US President-elect Donald Trump later this month.

Japanese Prime Minister Shigeru Ishiba, after his governing coalition suffered the worst election loss in more than a decade, faces another tough vote in parliament on Monday, though he is likely re-elected.

Hong Kong stocks led declines in Asia on Monday after Beijing's latest stimulus fell short of investor expectations, overshadowing Wall Street's record highs from Friday and futures pointing to further strength at the reopen.

Asian stocks may struggle in early trading after Chinese economic measures underwhelmed and the release of anemic inflation data over the weekend. Bitcoin topped $81,000 after President-elect Donald Trump took a clean sweep of the seven US battleground states.