Major stock markets in Asia followed Wall Street lower on Wednesday, amid caution ahead of the outcome of the FOMC meeting later in the day. Stocks in China (-0.6%) fell for the fourth straight session but losses eased after a Chinese state-owned securities newspaper said that there was no systemic risk in the recent sell-off and that the country’s macroeconomy is still in a steady rebound stage, and short-term fluctuations do not change the long-term positive outlook for A-shares. The Hang Seng was up 1.2%, attempting to rebound from a more than 8% decline over two days early in the week. On the other hand, the Nikkei 225 sank 1.4% after the IMF cut the 2021 GDP growth forecast for Japan to 2.8% from 3.3%, amid the impact of COVID-19. Meantime, equities in Australia, retreated from a record close in the prior session, on reports that lockdown in Sydney is set to extend. The Kospi was down 0.1%, on worries over a record increase in local coronavirus cases.