Asian stocks drop as China support plan falls flat, bitcoin hits record

By Agence France-Presse

Asian stocks drop as China support plan falls flat, bitcoin hits record

Asian markets fell Monday after China's keenly anticipated plans to support the world's number two economy fell short of expectations, while traders were also keeping tabs on Washington as Donald Trump puts his cabinet together after last week's election win.

Stocks rallied last week on hopes that a second Trump administration -- supported by a Republican Congress -- would push through a slew of business-friendly policies including deregulation and tax cuts, offsetting concerns about possible trade wars.

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