Asian stocks decline. Tuesday saw a decline in most Asian stock markets as concerns over hawkish signals from a Federal Reserve meeting this week outweighed evidence that Chinese economic activity had recovered in January.

Shanghai Shenzhen CSI 300 and Shanghai Composite indexes in China decreased by 1% and 0.5%, respectively, despite government data showing a robust comeback in manufacturing and services activity in China in January.

Asia’s technology-heavy indexes underperformed for the day as an overnight sell-off in U.S. heavyweights spread. The Hang Seng index in Hong Kong fell 1%, the KOSPI in South Korea down 0.7%, and the Taiwan Weighted index fell 1.3%.

Asian stocks weighed by US Fed

The Fed is expected to raise rates by 25 basis points on Wednesday, which sent tech stocks reeling ahead of the meeting. However, considering that recent indications of the U.S. economy’s resiliency provide the central bank more leeway to keep raising interest rates, markets remain leery of any aggressive warnings from the Fed.

Asian stocks dip

Due to information indicating that December retail sales increased more than anticipated, losses in Japan’s Nikkei 225 index were relatively constrained. The score suggests that non-manufacturing businesses are remained resilient despite a decline in Japan’s industrial sector.

In January, Japanese stocks were one of the best performers in Asia, rising about 5% after the Bank of Japan surprised the market by maintaining its yield curve management strategy.

The ASX 200 index in Australia dropped 0.2% as significantly lower retail sales figures than anticipated raised worries about the economy, which is already struggling under the weight of massive interest rates and rising inflation.

European equities futures point to a worse opening, with the Euro Stoxx 50 down 0.6% following yesterday’s 0.5% down in the cash market.