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China is scheduled to release a raft of data on Monday, highlighting a busy day for Asia-Pacific economic activity. On tap are March figures for industrial production, fixed asset investment and retail sales, as well as Q1 data for gross domestic product.

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The World Bank on Monday warned against many large economies in East Asia and Pacific adding more and more stimulus to boost economic growth. The bank is of the view that these measures may prove "counterproductive" due to their inflationary impact. In the latest edition of the East Asia and Pacific Economic Update, the lender said it now expects developing East Asia region to grow 7.8 percent.

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House prices in the UK increased for a fourth consecutive month in April fueled by more positive market sentiment and seller shortage, a report from Rightmove revealed Monday. New seller asking prices rose 2.1 percent month-on-month to GBP 244,706 in April. This was the highest April figure ever recorded, Rightmove said. In March, prices were up 1.7 percent month-on-month.

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Conditions for New York manufacturers improved slightly in the month of April, according to a report released by the Federal Reserve Bank of New York on Monday, although the index of activity in the sector fell by more than anticipated. The New York Fed said its general business conditions index fell to 3.1 in April from 9.2 in March.

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Conditions for New York manufacturers improved slightly in the month of April, according to a report released by the Federal Reserve Bank of New York on Monday, although the index of activity in the sector fell by more than anticipated.

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Homebuilder confidence in the U.S. unexpectedly decreased in the month of April, according to a report released by the National Association of Home Builders on Monday, with the drop reflecting increasing costs for building materials and rising concerns about the supply of developed lots and labor.

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Ireland's construction activity shrunk for the seventieth consecutive month in March with accelerated declines in activity, new orders and employment, survey data from Markit Economics showed on Monday.

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South Korea unveiled a KRW 17.3 trillion, or $15.4 billion, extra budget on Tuesday to revive the economy and to support exporters reeling under a sliding yen. The extra budget will make up for a KRW 12 trillion shortfall in revenues, resulting from the economic slowdown, and finance KRW 5.3 billion in new spending, the Ministry of Strategy and Finance said.

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The members of the Reserve Bank of Australia are expecting moderate economic growth in the coming months, minutes from the bank's monetary policy meeting on April 2 revealed on Tuesday. The inflation forecast leaves the bank with room for further easing, the bank said, although the rate of recovery seems satisfactory. The bank said that inflation is likely to be consistent with the 2-3 percent target.

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U.K. inflation remained steady, stubbornly above the 2 percent target in March, squeezing the purchasing power of consumers. Nonetheless, pipeline inflation decreased significantly in March, adding to hopes of more stimulus from the central bank after it broadened its capacity to increase easing even when inflation stays above the target.

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