Chinese stocks declined after a high-profile legislative meeting disappointed investors who had been hoping for large-scale stimulus to boost the economy and end a deflationary cycle.

Asian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations.

Hong Kong shares ended lower, with the Hang Seng Index dropping 1.1% to 20728.19. Investors were eyeing expected announcements from Chinese officials that are anticipated to include more stimulus for the Chinese economy.