Despite the broadly positive cues from global markets overnight, the Asian stock markets are trading mostly lower, as traders reacted to some downbeat Chinese manufacturing and non-manufacturing activity data. Ongoing concerns about the outlook for interest rates and the conflict in Middle East is also weighing on the markets. Asian markets closed mixed on Monday.
Traders now look ahead to the US Fed's highly anticipated monetary policy announcement on Wednesday, where the Fed widely expected to leave interest rates unchanged, but traders will pay close attention to the accompanying statement for clues about the potential for further rate hikes.
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