Asian Markets Drop as Traders Await Fed Decision Amid Bank Woes.

Asian markets fell ahead of the US Federal Reserve's policy decision, with most economists surveyed by Reuters expecting a 25 basis point rate hike. Hong Kong's Hang Seng index led losses in the region, while markets in Japan and mainland China were closed for a holiday. Oil prices fell sharply following an unexpected contraction in Chinese factory activity and ahead of further interest rate hikes expected from the Federal Reserve and European Central Bank this week. Thailand's headline inflation rate eased for a fourth straight month to 2.67% in April, while employment openings hit a nearly two-year low in March, a sign the jobs market is loosening up.