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Three separate surveys of Chinese economic activity were the latest signs that the nation's much-discussed slowdown remained in place.
Australia recorded its fastest annual pace of growth in three years in Q1, which could keep the RBA on hold.
Japan's SoftBank will sell at least $7.9 billion in shares of Chinese e-commerce giant Alibaba to raise capital.
A Fed interest rate hike in June would be a nasty shock for equity markets, notes UBS Wealth Management Australia's David Sokulsky.
The Development Bank of Japan could contribute business services and offer advice to the Southeast Asian bloc, says DBJ's Satoshi Tomii.
Markets have priced in Fed tightening, but not the reality of higher rates and their potentially negative impact on the economy, says A&G Capital's Hilary Kramer.