Asia-Pacific markets mostly fell on Monday as investors awaited inflation data from Australia and Japan later this week.
In Japan, the Nikkei 225 index regained 208.18 points, or 0.5%, to 38,804.65.
On Monday, the Bank of Japan revealed it discussed raising interest rates during its June monetary policy meeting.
It said, however, “any change in the policy interest rate should be considered only after economic indicators confirm that, for example, the CPI inflation rate has clearly started to rebound and medium to long-term inflation expectations have risen.”
Last week, BOJ Governor Kazuo Ueda reportedly told the country’s parliament that the central bank could raise rates as soon as its July meeting.
In Hong Kong, the Hang Seng index fell 0.81 points to 18,027.71.
Australia’s May consumer price index reading, due on Wednesday, will be in focus after Reserve Bank of Australia Governor Michelle Bullock revealed the central bank discussed hiking rates at its last meeting.
Should inflation come in higher than expected and spur the RBA to raise rates, it would be the first major Asia-Pacific central bank to do so in an environment where investors are waiting for rate cuts, barring Japan.
The RBA has two inflation readings to consider — June 26 and July 31— before its next meeting on Aug. 6.
CHINA
In Shanghai, the CSI 300 declined 18.81 points, or 0.5%, to 3,476.81.
China reported a 2.8% fall in fiscal revenue for the first five months of 2024 compared to 2023, widening from a 2.7% year-on-year fall from January to April.
For May alone, fiscal revenue was down 3.2% year on year, a softer fall than the 3.7% slide in April.
In other markets
In Singapore, the Straits Times Index gained 8.12 points, or 0.3%, to 3,314.14.
In Korea, the Kospi index subtracted 19.53 points, or 0.7%, to 2,764.73.
In Taiwan, the Taiex index lost 439.69 points, or 1.9%, to 22,813.70.
In New Zealand, the NZX 50 dropped 54.53 points, or 0.5%, to 11,627.86.
In Australia, the ASX 200 backtracked 62.29 points, or 0.8%, to 7,733.69.
