Brightly lit skyscrapers stand in the central business district of Beijing, China, at sunset on November 13, 2023.
VCG | Visual China Group | Getty Images
Asia-Pacific markets opened lower on Monday as investors assessed China’s April inflation data as stronger than expected.
China’s consumer price index rose 0.3% year-on-year, exceeding Reuters’ forecast of 0.2%.
However, the producer price index fell by 2.5% year-on-year, exceeding expectations of a 2.3% decline.
The key data this week will be Japan’s first-quarter gross domestic product, which is expected to fall 0.4% from the fourth quarter of 2023.
India’s inflation data will also be released later on Monday, with economists polled by Reuters expecting inflation in the world’s fifth-largest economy to slow slightly to 4.8%, down from 4.85% in March.
Japan’s Nikkei 225 Index According to futures data, the Chicago contract price was 38,240 and the Osaka contract price was 38,210, while the index last closed at 38,229.11
Futures are S&P/ASX 200 Index The opening price was 7,765 points compared to the last closing price of 7,749 points.
Hong Kong’s Hang Seng Index futures were quoted at 18,925 points, opening weaker than the Hang Seng Index’s closing point of 18,963.68 points.
Friday in America, Dow Jones Industrial Average It marked its eighth consecutive session of gains and its best week of 2024.
this S&P 500 Index up 0.16% Nasdaq Index It fell slightly by 0.03%.
Consumer confidence data released on Friday morning showed a sharp rise in inflation expectations, dampening investor enthusiasm.
The preliminary value of the University of Michigan’s consumer sentiment index in May was 67.4, well below the Dow Jones forecast of 76, and the lowest value in about six months.
—CNBC’s Pia Singh and Sarah Min contributed to this report.
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