Nifty futures on the Singapore Exchange are down 0.24 percent, while the MSCI-Asia Pacific excluding Japan index was lower 0.21 percent.
Asian share markets held steady after notching up solid gains in recent sessions.
US stocks closed higher on Friday, with major indexes notching a second straight week of gains as investors were once again willing to overlook some soft economic data stemming from bad weather. The US stock market was closed on Monday for Presidents Day.
KEY FACTORS TO WATCH:
BOJ rate decision.
GSK's $1 bln share tender offer for Indian unit to start