Asian Markets Dip Amid Fed Meeting and Disappointing China Updates

Asian stocks fell sharply, with Chinese shares particularly hit after the Central Economic Work Conference (CEWC) failed to announce significant new economic stimulus measures. Investors were disappointed by the lack of aggressive policies to counteract China's deflationary pressures. Meanwhile, global markets are cautious ahead of the Federal Reserve meeting, where a 25 basis point rate cut is expected. Japan's and other Asian markets also saw declines, while South Korea's index rose slightly amid political tensions.