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Asia Mostly Lower on China Inflation Data

Asia-Pacific markets were largely lower Monday as investors assessed China’s stronger-than-expected April inflation data.

In Japan, the Nikkei 225 index dumped 49.65 points, or 0.1%, to 38,179.46.

In Hong Kong, the Hang Sang index jumped 151.78 points, or 0.8%, to 19,115.06.

The data highlight for the week will be Japan’s first-quarter GDP, which is expected to have contracted an annualized 1.5%, according to a Reuters poll, likely jeopardizing the Bank of Japan’s plans to raise interest rates.


In Shanghai, the CSI 300 lost 1.59 points to 3,664.69.

China’s consumer price index climbed 0.3% year on year, beating Reuters’ estimates of a 0.2% rise.

The producer price index, however, fell 2.5% year on year, more than the estimated 2.3% drop.

China’s finance ministry said Monday it would start sales of long-term special treasury bonds worth 1 trillion yuan ($138.24 billion) this week.

In other markets

In Singapore, the Straits Times Index moved ahead 12.96 points, or 0.4%, to 3,303.66.

In Korea, the Kospi index dipped 0.42 points to 2,727.21.

In Taiwan, the Taiex index jumped 148.47 points, or 0.7%, to 20,857.71.

In New Zealand, the NZX 50 index lost 103 points, or 0.9%, to 11,652.16.

In Australia, the ASX 200 poked ahead 1.06 points to 7,750.03