China's steel rebar futures rose to their highest in more than 3-1/2-years and copper prices hit 4-1/2-month highs, buoyed by solid economic data.

Financials are expected to have a cautious start as investors will be looking out for any updates from the Australian Prudential Regulatory Authority (APRA) over banks' capital requirements.

The local share price index futures fell 0.07 percent to 5,693, a 62.5-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.2 percent on Monday.

New Zealand's benchmark S&P/NZX 50 index was flat in early trade.