Markets Are Making Some Boring Moves In Asia

Australia's S&P/ASX is flat.

Korea's Kospi is down 0.2%.

Japan's Nikkei is down 0.8%.

"Another boring open," said CNBC/SBS reporter Chery Kang on Asia Squawk Box.

Indeed, markets are basically in a holding pattern until Federal Reserve Chairman Ben Bernanke appears before Congress Wednesday morning.

"Look for Mr. Bernanke to try to strike a delicate balance: reassuring us that the Fed remains committed to supporting the economy, but also seeking to avoid encouraging additional artificial asset pricing that would further disconnect markets from underlying fundamentals," said PIMCO's Mohamed El-Erian.