Tokyo leads Asian stocks into the red

|By:, SA News Editor

Japanese shares (DXJ) lead Asian stocks lower as the yen (FXY) increases against the dollar ahead of the Fed's monetary policy meetings this week, when it's expected to keep its QE program in place for some time to come.

The yen is also stronger on fears about China's (FXI)  slowing growth and rising credit, factors that are weighing on sentiment in Shanghai as well.

The Nikkei is also being pulled down by a possible delay or watering down a proposed increase in sales tax, which is seen as vital to help reduce Japan's debt load.

Japan -3.3%, Hong Kong -0.5%, China -1.7%, India -0.6%.