The main driving force for Asian markets in the week ahead is expected to come from the U.S., where the Federal Reserve will hold a two-day policy meeting.
The Fed concludes its meeting on Wednesday and is in firm focus as investors around the world try to assess when the central bank will start to unwind some of the monetary stimulus that have given risk assets a powerful boost in recent years.
(Read More: Heeer's Bernanke: Will the Fed Finally Get Specific?)
Asian markets have shared their brunt of the Fed tapering jitters, with stock markets and currencies such as the Indonesian rupiah taking a beating last week.
"I think the message we are getting is that the Fed would like to keep markets focused on the idea of tapering but also give them a bit of a sedative to say we are starting to unease but we're not tightening," Richard Yetsenga, head of global markets research, at ANZ in Sydney told CNBC Asia's "Squawk Box."
"We have seen much higher volatility and markets will like the Fed signaling a let's be calm and let's take this one step at a time approach," he added.
The Fed is likely to act soon to quell the jitters in markets about the potential scaling back of its bond-buying plan, noted Fed watcher Jon Hilsenrath wrote in the Wall Street Journal last week.
(Read More: Why the Fed Will Try to Calm Market Nerves)