Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported
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.
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.
India’s inflation figures will also be out late Monday, with economists polled by Reuters expecting inflation in the world’s fifth-largest economy to slow slightly to 4.8% in April, down from March’s 4.85%.
Japan’s Nikkei 225 and the broad-based Topix pared earlier declines to trade flat.
South Korea’s Kospi was down 0.20%, while the small-cap Kosdaq fell 1%.
The Australian S&P/ASX 200 lost 0.2%.
Hong Kong’s Hang Seng index reversed earlier declines to rise 0.4%, while mainland China’s CSI 300 index was trading flat.
On Friday in the U.S., the Dow Jones Industrial Average notched an eighth consecutive winning session and registered its best week of 2024. The 30-stock index added 0.32% during the session.
The S&P 500 climbed 0.16% and the Nasdaq Composite inched lower by 0.03%.