Oil was slightly higher on Monday and the rouble lower as an abortive weekend mutiny by Russian mercenaries raised questions about Russian stability and crude supply, but left investors hesitant to draw any further conclusions.

Brent crude futures were last up 0.2 per cent at $74.02 a barrel having earlier fetched as much as $74.80. The rouble dropped to a 15-month low early in Moscow.

MSCI's index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped to a three-week low, as small falls in China, Taiwan and Australia offset minor gains in South Korea.

Japan's Nikkei (.N225) eased 0.1 per cent. The battered yen rose marginally on hints at looming government intervention to support it and after a summary showing a central bank board called for an early revision of yield curve control.

European futures gained 0.3 per cent, S&P 500 futures rose 0.2 per cent and FTSE futures added 0.1 per cent.

Russian mercenaries made a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine.

The private Wagner army then withdrew after striking a deal guaranteeing their safety and the passage of their leader, Yevgeny Prigozhin, to Belarus.

The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership.

"I don't think the market can get its head around working out if there are implications," said Ray Attrill, head of foreign exchange strategy at National Australia Bank in Sydney.

Analysts at RBC Capital Markets said one concern was the possibility of martial law in Russia and its effect on the workforce at ports and oil production facilities.

Gold , which had hit a three-month low on Friday, rose 0.2 per cent to $1,925 an ounce. U.S. Treasuries were firm with yields, which fall when prices rise, marginally lower.

Two-year yields fell 2 basis points to 4.731 per cent. Ten-year yields fell 1.8 bps to 3.721 per cent.

"This putsch ... has revealed cracks and fragilities that now cannot be unseen," said Mizuho economist Vishnu Varathan.

"It undeniably amplifies global geopolitical risks."

CHINA FOCUS

With the mutiny being on the watchlist rather than driving action in Asia, investors were left to pore over the latest signs of China's recovery stalling, which on Monday was softer-than-hoped-for travel figures for last week's holiday.