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Japan will on Wednesday release preliminary Q4 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity.

GDP is expected to advance 0.2 percent on quarter and 1.0 percent on year after expanding 0.6 percent on quarter and 2.5 percent on year in the three months prior. Nominal GDP is called higher by 0.4 percent on quarter, slowing from 0.8 percent in Q3.

Australia will see February results for the consumer confidence index from Westpac; in January, the index jumped 1.8 percent to a score of 105.1.

Singapore will release January numbers for imports, exports and trade balance. In December, imports were worth S$40.10 billion and exports were at S$44.59 billion for a trade surplus of S$5.49 billion.

The central bank in Thailand will wrap up its monetary policy meeting and then announce its decision on interest rates. The central bank is widely expected to keep its benchmark lending rate steady at 1.50 percent.

Finally, the markets in Taiwan remain closed for the long Lunar New Year break; they will re-open Feb. 21.