Nifty futures on the Singapore Exchange falls 0.51 percent, while the MSCI-Asia Pacific excluding Japan index down 0.43 percent.
Asian shares were slowly giving ground on Monday as strains in emerging markets show little sign of abating, while growing pressure for another policy easing in Europe shoved the euro to 10-week lows.
A selloff in emerging markets sent a cold chill down Wall Street, triggering a slide on Friday and making January its worst month since May 2012 after one of its best years in more than a decade.
KEY FACTORS/EVENTS TO WATCH
* India will release January Manufacturing PMI (0500GMT)
* India's government hopes to raise at least $1.8 billion from the mobile phone spectrum auction, which opens on Monday. \
* Earnings of Lupin Ltd
INDIAN STOCKS TO WATCH
* India's Chidambaram faces mounting deficit in election year India's Dec infrastructure output up 2.1 pct
* Abu Dhabi's TAQA to acquire two hydel assets from Jaypee Group for $2 bn
* India revises down 2012/13 GDP growth to 4.5 pct y/y
* Daiichi Sankyo pledges bold action on Ranbaxy production problems
* Indian central bank chief: U.S. should be mindful of global policy impact
* Global automakers scour India's backroads in search of dream market
* India cbank to cut swap rates on foreign currency deposits from Mar 1
* India's Tata Power sells stake in Indonesian firm for $500 mln * Indian state bars foreign supermarkets in latest blow for chains
* Delhi power regulator approves up to 8 pct tariff hike
* Maruti Suzuki India Jan sales down 10.3 pct
* TVS Motor January sales rise 6 pct
* Mahindra & Mahindra Ltd January sales fall 14 pct
* Tata Motors January sales fall 34.3 pct
* Spending cuts may result in Rs 100 bn cash surplus after meeting fiscal deficit target
* Utility warns of power cuts in India's capital