Europe set to follow Asia’s negative trend – CNBC

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Asia markets were mostly lower on Monday morning although Chinese markets bucked the trend, posting gains, with the Shanghai composite adding 1.67 percent and the Shenzhen composite up 1.87 percent.

Before the market open, China released its March inflation data. The consumer price index (CPI) rose 2.3 percent on-year in March, compared with a 2.5 percent forecast by a Reuters poll and in line with February’s 2.3 percent on-year reading. Analysts said the inflation reading wasn’t likely to affect expectations for further monetary easing from the mainland’s policy makers.

In other news, the World Bank warned in a report on Monday that economic growth in the East Asia and Pacific region could ease due to weaker growth in China.

Meanwhile, Bank of Japan Governor Haruhiko Kuroda said on Monday that the bank would closely watch how unstable global market moves could affect the country’s economy and prices, according to Reuters.

Europe set to follow Asia’s negative trend – CNBC}