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Asia Markets Mostly Fall on Inflation Concerns

Asia-Pacific markets mostly fell as of Japan’s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand’s central banks.

The Nikkei 225 Index skidded 191.32 points, or 0.5%, to 39,581,81.

Japan’s corporate inflation rate came in at 0.8% for March, its third straight month of increase and in line with expectations from a Reuters poll of economists, while investors also brace for the U.S. consumer price index report later Wednesday.

In Hong Kong, the Hang Seng index zoomed 311.3 points, or 1.9%, to 17,139.17.

South Korea’s markets are closed Wednesday, as the country heads to the polls to elect its next parliament.

Separately, the Reserve Bank of New Zealand held its benchmark interest rates at 5.5%, saying that “a restrictive monetary policy stance remains necessary to further reduce capacity pressures and inflation.”

In other markets

Markets in Singapore were also closed for holiday.

In Shanghai, the CSI 300 index dropped 28.78 points, or 0.8%, to 3,504.71.

In Taiwan, the Taiex index faltered 48.17 points, or 0.3%, to 16,336.04.

In New Zealand, the NZX 50 recovered 55.15 points, or 0.5%, to 11,971.93.

In Australia, the ASX 200 gained 24.21 points, or 0.3%, to 7,848.45.