Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.

Mainland Chinese stocks were mixed on the day, with the Shenzhen composite down 0.195% to 1,502.12 and Shenzhen component slipping 0.33% to 8,780.87. The Shanghai composite on the other hand, rose 0.2% to 2,887.62.

In Hong Kong, the Hang Seng index rose around 0.5% as of its final hour of trade, a day after large crowds gathered to demand that the city's top official step down after she suspended — but didn't withdraw — a controversial extradition bill.

One investor told CNBC that the situation in Hong Kong will likely have limited impact on markets as they are focused on the "bigger picture" at present.

""If you really pin it down, I think they are really focused on two things: One is of course the trade tensions, that has a bigger impact on not only Hong Kong but the rest of the region and the world. And interest rates, I think this week we got a Fed meeting, everybody's watching it very closely," Haren Shah, managing director and head of investments at Taurus Wealth Advisors, told CNBC's "Street Signs" on Monday.

Over in Japan, the Nikkei 225 in Japan closed just above the flatline at 21,124.00, while the Topix slipped 0.45% to end its trading day at 1,539.74. Shares of Apple supplier Japan Display plunged 7.02% after the company announced that Taiwanese flat screen maker TPK Holding had decided against investing in it.

In South Korea, the Kospi shed 0.22% to close at 2,090.73, while Australia's fell 0.35% to cap its trading day Down Under at 6,530.90.