Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, with investors largely staying cautious amid worries about rising number of cases of Omicron variant of the coronavirus and looking ahead to the Federal Reserve's monetary policy on Wednesday. Asian stocks ended mostly higher on Monday.
The Fed is expected to discuss accelerating the pace of tapering its asset purchase program, with reports suggesting the central bank could double the rate to $30 billion per month. The European Central Bank, the Bank of England and the Bank of Japan are also scheduled to announce their monetary policies this week.
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