Nippon health check
Due early Tuesday, Japan's revised gross domestic product (GDP) data for the April-June period may exacerbate concerns about global economic growth.
Economists polled by Reuters expect the world's third-largest economy to shrink an annualized 1.8 percent in the second quarter, worse than the initial estimate of a 1.6 percent contraction. This translates into a decline of 0.4 percent on-quarter, unchanged from the government's forecast released on August 17.
However, markets may seek comfort in the core machinery orders scheduled for release on Thursday. A Reuters poll see the leading indicator of capital spending rising 3.7 percent in July, after a 7.9 percent drop in the preceding month.
Read MoreMajor volatility? Buy Japan equities: Goldman's Oppenheimer
Central bank decisions
The Reserve Bank of New Zealand (RBNZ) will likely lower rates for the third consecutive month when it meets on Thursday, bringing the official cash rate down by 25 basis points to 2.75 percent, according to Moody's Analytics.
"The low inflation environment, coupled with the weaker growth outlook, drove the second interest rate reduction [in July]. Even though the lower New Zealand dollar is helping ease monetary conditions, further rate cuts are likely if domestic demand continues to disappoint," analysts said.
On the other hand, the Bank of Korea (BOK) is expected to stand pat on interest rates on Friday, but analysts warn that a cut may be imminent in the fourth quarter amid stalling growth.
"As growth is likely to disappoint, we now expect the BOK to cut rates once again in fourth quarter to bring the policy rate to an unprecedented 1.25 percent. We believe this could take place as early as October," a note by Morgan Stanley said last Tuesday.
Analysts at Morgan Stanley downgraded their 2015 growth forecasts for the fourth-largest economy in Asia to 2.3 percent, from 2.5 percent, after data showed exports slumping by the most in six years in August.
Read MoreSingapore's rulers hope a nudge to the left will keep voters loyal
For the first time since Singapore gained its independence from Malaysia in 1965, opposition parties will contest all parliamentary seats in a general election held on September 11, mounting their biggest challenge against ruling People's Action Party.
Despite the increased competition, analysts say election fever may remain a sideshow for the local share index, at least for now.
"There are bigger risk events this week such as China. The past two days of trading have been calm largely due to the lack of influence from China, so markets will be on the lookout for that when China markets reopen. But the key risk for September remains the Fed and whether they will raise rates in two weeks' time," Nicholas Teo, market analyst at CMC Markets, told CNBC by phone.
"The polls are important but any impact may only come next week after the results are announced such as in the event of a radical result," the Singapore-based analyst added.
On Friday, the benchmark Straits Times index was the biggest loser in Southeast Asia, down more than 1 percent to finish at its lowest level since August 26.