Australia's May inflation figures to influence Asia-Pacific markets' opening performance.

• The Reuters poll of economists predicts that Australia's weighted consumer price index will be 3.8% in May, higher than the 3.6% recorded in April.
• The Reuters poll of economists forecasts a 2% year-on-year growth rate for Singapore's May factory output, which will be released on Wednesday, as compared to the 1.6% decline recorded in April.

Investors are eagerly awaiting the release of Australia's inflation numbers for May and Singapore's May manufacturing output data, which will determine the opening of Asia-Pacific markets on Wednesday.

In May, the weighted inflation rate in Australia is predicted to be 3.8%, higher than the 3.6% recorded in April, according to a Reuters poll of economists.

If inflation rises unexpectedly and leads the RBA to increase rates, it would be the first major Asia-Pacific central bank to do so in a context where investors anticipate rate cuts, except for Japan.

Before its next meeting on Aug. 6, the RBA must take into account two inflation readings, which are scheduled for June 26 and July 31.

The Reuters poll of economists forecasts a 2% year-on-year growth rate for Singapore's May factory output, which will be released on Wednesday, as compared to the 1.6% decline recorded in April.

The S&P/ASX 200 index in Australia was at 7,801, which was below its previous closing value of 7,838.8.

The futures market in Japan is expected to have a stronger opening, with the Chicago futures contract at 39,340 and the Osaka futures contract at 39,320, compared to the previous close of 39,173.15.

The HSI's last close was higher than Hong Kong's futures, which were at 17,958.

In the U.S., the Dow Jones Industrial Average decreased by 0.76% overnight, ending at 39,112.16. The broad market added 0.39%, while the advanced index gained 1.26%, both ending their three-day losing streaks.

— CNBC's Hakyung Kim and Samantha Subin contributed to this report.