Markets sank on Monday with traders left disappointed by a lack of policy announcements from China aimed at kickstarting the ailing economy.
Equities enjoyed a strong run-up last week, partly on the back of hopes that Beijing would unveil a raft of economic stimulus to go with two interest rate cuts.
While state media reported that Premier Li Qiang held a State Council meeting Friday, there were few details, dealing a blow to sentiment and leading to an unwinding of some of last week's rally.Still, with the world's number two economy struggling and key industries in trouble, leaders have plenty of work to do, analysts said.
"Indeed, these areas of the economy could require a lengthy structural overhaul to repair. China needs to drive growth in sectors like technology, education, finance and entertainment, all of which have suffered under the security-focused leadership of Xi Jinping."Tokyo, Hong Kong, Shanghai, Seoul, Mumbai, Singapore, Taipei, Manila, Jakarta, Bangkok and Wellington were all down, though Sydney rose.
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