Taiwan is on Monday scheduled to release August figures for consumer and wholesale prices, headlining a light day for Asia-Pacific economic activity. Analysts are expecting a flat reading for CPI following the 1.31 percent annual increase in July. WPI is expected to come in at 3.1 percent, easing from 5.34 percent in the previous month.

Also, the Bank of Japan will kick off its two-day monetary policy meeting - at the conclusion of which on Tuesday it will announce its decision on interest rates.

Also on Monday, Australia will announce August figures for inflation expectations, job advertisements and the AIG Performance of Construction Index - while Malaysia will provide foreign reserves data for August.