China CPI, Retail Sales, Japan GDP

Asia-Pacific markets fell sharply on Monday as investors assessed China’s stronger-than-expected April inflation data.

China’s consumer price index rose 0.3% from a year earlier, beating Reuters’ forecast for a 0.2% rise.

However, the producer price index fell 2.5% year-on-year, exceeding the expected decline of 2.3%.

This week’s data highlight is Japan’s first-quarter GDP, which is expected to contract by an annualized 1.5%, according to a Reuters poll, likely jeopardizing the Bank of Japan’s interest rate hike plans.

India’s inflation data is also expected to be released later on Monday, with economists polled by Reuters saying the world’s fifth-largest economy’s inflation rate was 4.8% in April, up from 4.85% in March. We expect it to decline slightly.

Japanese Nikkei Stock Average The stock price closed 0.13% lower at 38,179.46, while the composite index TOPIX fell 0.15% to 2,724.08.

Korean Kospi was flat at 2,727.21, while the small-cap Kosdaq fell 1.13% to close at 854.43.

Australian person S&P/ASX 200 It closed flat at 7,750.

Hong Kong’s Hang Seng index rose 0.76%, while mainland China’s CSI300 index fell slightly, ending at 3,664.69.

China’s Ministry of Finance announced on Monday that it will begin selling 1 trillion yuan ($138.24 billion) worth of long-term special government bonds this week.

Friday in the US Dow Jones Industrial Average Recorded eight consecutive winning sessions, marking the best week of 2024. The 30-stock index rose 0.32% during the session.

of S&P500 Increased by 0.16%, Nasdaq Composite It fell by 0.03%.

Consumer sentiment data released Friday morning showed a significant rise in inflation expectations, dampening investor enthusiasm.

The University of Michigan’s Consumer Confidence Index for May came in at 67.4, well below the Dow Jones forecast of 76 and the lowest level in about six months.

—CNBC’s Pia Singh and Sarah Min contributed to this report.