A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
Chinese stocks on Monday ended lower for a sixth day after the country's top leaders said the economy is facing "new difficulties and challenges", "risks and hidden dangers in key areas" and "a grim and complex external environment."
Meanwhile, real estate stocks and bonds slumped to eight-month lows on Monday as fears grow that a cash crunch is looming over two of China's biggest developers, Country Garden and Dalian Wanda. Morgan Stanley's Mike Wilson, probably the most prominent equity bear this year and whose call for a lower S&P 500 was based on poor earnings, said on Monday: "We were wrong".
If BI does stay on hold, policymakers' focus will switch to the exchange rate - further tightening from the Fed and other central banks could put the rupiah under heavy selling pressure.
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