Japan's Nikkei underperforms amid mounting political risks

Trump's complaints over trade and currency rates worry many in Japan and Abe hopes to sell him on a job creation and investment package when they meet Friday.

ANALYST TAKE: "The bullish sentiment that has dominated financial markets since Trump's victory seems to be wavering, as the lack of detail over any fiscal stimulus, coupled with a focus on his travel ban, takes precedence," said Joshua Mahoney, market analyst at IG.

The impending political headwinds from Holland, France and Germany, alongside the ever present Greece, means there is an increasingly cloudy outlook ahead for traders, as reflected by recent market hesitancy.

Benchmark U.S. crude gained 41 cents to $52.753 a barrel in electronic trading on the New York Mercantile Exchange, while Brent crude, the benchmark for international oil prices, added 40 cents to $55.52 a barrel.