The year is rapidly drawing to a close but this is unlikely to be the week that Asia markets wind down – not with the Federal Reserve, Bank of Japan (BOJ) and Reserve Bank of India (RBI) all scheduled to meet.
In addition to major central bank meetings, Japan released its closely-watched Tankan business survey on Monday and HSBC released its flash purchasing managers' index (PMI). The HSBC flash PMI slipped to a three-month low in December of 50.5.
(Read more: Business sentiment in Japan hits a 6-year high)
"This week could be one of the busiest, most market changing weeks of the year... and possibly the biggest FOMC [Federal Open Market Committee] meeting since the September 2012 when QE3 (third round of quantitative easing) was enacted," said Evan Lucas, market strategist at trading firm IG, in a note.
The Fed concludes a two-day meeting on Wednesday amid heightened talk that it could use its final gathering of the year to start a widely-anticipated scaling back of its monetary stimulus program.