Asian Stocks Fall as Soft China Data Weighs on Sentiment 

Asian stocks fell on Tuesday as weak economic data from China and a lack of new stimulus measures weighed on investor sentiment. Soft data in China triggered losses for Hong Kong and mainland Chinese stocks, while Japanese shares also edged lower.

Investors are awaiting key earnings reports from major U.S. banks this week as well as U.S. retail sales and industrial production figures for clues on the Federal Reserve's rate hike path. The Fed is expected to deliver another rate hike next week but signal a pause in tightening thereafter.

The U.S. dollar index was slightly lower, weighing on the greenback and supporting other currencies. The euro hit a fresh 17-month high against the dollar, while the British pound was also higher.

China's Hang Seng Index led losses in Asia, falling 1.93% as investors struggled to find positive catalysts after disappointing Chinese economic data. The CSI 300 index of mainland China shares lost 0.23%. 

Japan's Nikkei edged up just 0.09% while regional benchmark MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.56%.

Money markets have largely priced in a 25 basis point rate hike from the Fed next week but expect rates to drop starting in December. The ECB and Bank of England, meanwhile, are seen extending their rate hike cycles.

In summary, concerns about the health of China's economy and a lack of fresh stimulus from Beijing contributed to the downbeat tone across Asian markets on Tuesday.

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