Asian shares look set to retreat and oil prices to resume their descent after investors used rebounds over the last two days to offload risk assets as fears of a global economic slowdown show no sign of abating.

In the currencies, resurgent risk aversion helped to lift the yen to 118.35 to the dollar from its two-week low of 118.88 hit on Friday.
The euro also gained against the dollar to $1.0852 , 0.6 percent above late last week and having recovered about half the losses seen on Thursday when European Central Bank President Mario Draghi indicated more stimulus in March.
Currencies closely linked to energy and commodities are struggling, with the Canadian dollar slipping back towards the 13-year low it set last week.
But the U.S. Federal Reserve's policy statement due on Wednesday followed by the Bank of Japan's announcement on Friday could possibly change investors' sentiment, many market players say.
Fed officials have so far stuck to the line that the bank would be ready to raise interest rates four times this year despite market volatility as the U.S. economic expansion continues.
Investors have difficulty believing such a policy tightening is possible under the current unstable economic and market conditions, with federal fund rate futures<0#ff:>pricing in just over one rate hike this year.
Some investors hope a more dovish tone out of the Fed would help to soothe market sentiment, given that the perception gap between markets and policymakers has been a major source of anxiety.
Speculation that the Bank of Japan could step up its stimulus this week is also rising, although many market players still think the BOJ will hold fire for now.