The October meetings of the International Monetary Fund and World Bank are set to commence in Washington, drawing global finance officials to discuss pressing economic issues.

In the lead-up to these meetings, the dollar has surged nearly 1% to 150.90 yen, reaching its highest level since early August, indicative of a broader increase against major currencies.

As a result, Asian markets are anticipated to recover, particularly with Japanese equities expected to rise due to the weakening yen.

Looking ahead, the economic calendar for Tuesday in Asia includes significant reports such as Hong Kong consumer inflation, South Korean producer price inflation, and New Zealand trade data.

Meanwhile, Chinese markets began the week on a positive note following a 25 basis point cut in benchmark lending rates by the People's Bank of China, alongside new measures to support tech companies.

However, Taiwan's export figures have shown a decline in orders due to reduced demand from China, highlighting ongoing economic struggles in the region.

These meetings will include various press conferences, discussions, and bilateral meetings that could significantly influence market trends.

This surge in the dollar coincides with a notable rise in U.S. Treasury yields, which reached a three-month high of 4.19%, raising concerns for emerging economies.

Emerging markets are likely to face challenges as the strengthening dollar and rising yields create a tough environment for economic growth.

In Japan, there is a notable negative correlation between the yen and Japanese stocks, suggesting that a weaker yen could lead to higher stock prices, potentially benefiting the Nikkei index.

This correlation has reached its most inverse level since 2005, indicating that further declines in the yen may continue to support gains for Japanese equities.

In South Korea, annual producer price inflation has dropped sharply to 1.6% in August, signaling cooling price pressures in the economy.