Asian stock markets are trading mostly lower in thin trading on Monday due to a holiday in most markets, following the broadly negative cues from Wall Street on Friday, amid lingering concerns about inflation and the prospect of aggressive rate hikes by central banks around the world. Asian markets closed mostly higher on Friday.
Traders are cautious ahead of this week's U.S. Federal Reserve meeting, with the central bank widely expected to raise interest rates by 50 basis points. They are also likely to pay close attention to the Fed's accompanying statement for clues about how aggressive the central bank plans to tighten monetary policy going forward.
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