New Delhi, Aug. 24 -- Key Asian markets, including the Indian stock market, closed lower on Monday, August 24, as investors remained cautious while awaiting further details on the US announcement of sweeping economic sanctions aimed at isolating Iran's economy and breaking the ongoing impasse between the two countries.

The cautious mood was further compounded by developments surrounding the annual gathering of top US economic officials at Jackson Hole, Wyoming. Investors are also awaiting a key inflation update on Wednesday, when the US releases its July personal consumption expenditures (PCE) report, which could offer fresh cues on the outlook for interest rates.

Reflecting the broader risk-off sentiment, major Asian indices ended the ...