MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.25 percent. The CSI 300 index of Shanghai and Shenzhen shares dipped 0.3 percent .CSI300 but managed to stay above its November low.

China is also expected to hold its annual Central Economic Work Conference later this week, where key growth targets and policy goals for 2019 will be discussed.

In the United States, the Federal Reserve is seen as almost certain to raise interest rates at its two-day policy meeting starting on Tuesday, further enhancing the dollar’s yield attraction.

• Japan’s Nikkei rose on Monday, recouping some of the sharp losses seen at the end of last week as investors picked up battered shares, but the upside was curbed by rising concerns over global growth.

The Nikkei share average rose 0.6 percent to 21,506.88, after it slumped 2 percent on Friday on the back of grim Chinese data which also knocked Wall Street.

• Chinese blue-chip shares fell on Monday after data on new home prices showed slowing growth in November, the latest indication of a cooling domestic economy, but investors are awaiting a key government meeting for signs of more policy support.

At the midday break, China’s blue-chip CSI300 index was down 0.28 percent, with its financial sector sub-index flat, the consumer staples sector down 1.04percent, the real estate index down 0.12 percent and the healthcare sub-index down 1.9 percent.

The Shanghai Composite index was flat at 2,593.98 points, having wavered between losses and small gains in the morning session.

• Hong Kong stocks are closing out a rough year and the outlook for 2019 remains largely negative, according to analysts and investors.

Headwinds from a weakening economy in China, the Beijing-Washington trade war, concerns about signs of emerging U.S. weakness and an expected slowdown in local initial public offerings after a banner 2018 are seen as likely to weigh on the market.

The benchmark Hang Seng Index closed Friday at 26,094.79, down about 13 percent for the year as the end of 2018 approaches. It has slumped some 22percent from its peak of 33,484.08 on Jan. 29.