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Asian markets down ahead of major central bank decisions

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Asian markets down ahead of major central bank decisions

Asian markets closed lower Dec. 12, ahead of a likely rate hike by the U.S. Federal Reserve on Dec. 13.

China's benchmark index, Shanghai Composite, closed 1.25% lower at 3,280.81 and Japan's Nikkei 225 was down 0.32% to 22,866.17. Hong Kong's Hang Seng retreated 0.59% to 28,793.88.

The Fed is widely expected to raise rates Dec. 13 and the European Central Bank is expected to announce detailed plans on tapering asset purchases Dec. 14. The Bank of England will also set its monetary policy Dec. 14.