Asian Markets Uneasy as China Targets Slow Growth and Higher Defense Spending

• Asian markets face pressure as China sets 5% growth target and boosts defense spending by 7.2%

• China's Premier skips annual press briefing, undermining confidence as economy struggles

• Focus on annual parliamentary meetings in Beijing and economic data in government's work report

• Yen steady as Tokyo inflation surges back above Bank of Japan's target, supporting case for rate hike

• Fed Chair Powell heads to Congress and is expected to reinforce case for rate cuts though US growth remains solid