Finished utility hole covers and frames stored for shipment at the Ito Tekko Co. foundry in Kawaguchi, Saitama Prefecture,

The Bank of Korea will release its rate decision on Thursday, while inflation data from Japan and Singapore will be released on Friday. China will announce its one- and five-year loan prime rates on Tuesday.

Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a slew of central bank releases and inflation data this week.

Japan's Nikkei 225 was down 1.77%, closing at 37,388.62 while the broad-based Topix fell 1.4% to end at 2,641.14. Both indexes snapped five-day winning streaks.

Core machinery orders in Japan fell 1.7% year on year in June, surprising economists who had expected a 1.8% rise. Machinery orders are viewed as a proxy for capital expenditure in the country.

Separately, Reuters reported that both Japan's national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for subway operator Tokyo Metro.

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