Illuminated skyscrapers stand in the central business district at sunset on November 13, 2023 in Beijing, China.
VCG | China Optical Group | Getty Images
Asia-Pacific markets were largely lower on Monday as investors took stock of stronger-than-expected Chinese inflation data for April.
China's consumer price index rose 0.3 percent year-on-year, exceeding Reuters' estimates of a 0.2 percent rise.
However, the producer price index fell by 2.5% year-on-year, more than the expected decline of 2.3%.
The highlight of this week's data will be Japan's first-quarter gross domestic product, which is expected to contract by 1.5% year-on-year, according to a Reuters poll, which could put the Bank of Japan's plans to raise interest rates in jeopardy.
India's inflation numbers 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 4.85% in March.
Japan Nikki 225 The index opened 0.32% lower, while the broad-based Topix index fell 0.46%.
South Korea Cosby The Kosdaq rose 0.29%, while the small-cap Kosdaq fell marginally.
Australian Standard & Poor's/ASX 200 lost 0.2%
Hong Kong Hang Seng futures hit 18,925, indicating a weaker open compared to the HSI's close of 18,963.68.
Friday in the United States Dow Jones Industrial Average It marked its eighth straight winning session and recorded its best week of 2024. The 30-stock index rose 0.32% during the session.
the Standard & Poor's 500 It rose by 0.16% and Nasdaq Composite It decreased by 0.03%.
Consumer confidence data released on Friday morning showed a sharp rise in inflation expectations, dampening investor enthusiasm.
The preliminary May reading for the University of Michigan Consumer Confidence Index came in at 67.4, well below the Dow Jones estimate of 76 and representing its lowest reading in about six months.
CNBC's Pia Singh and Sarah Min contributed to this report.
