Nikkei slips on yen strength, but China shares rally – CNBC
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Asia markets retraced some of their morning losses on Monday, but a strong yen continued to weigh Japan’s shares even as a reading on China inflation helped to bolster mainland stocks.
Japan’s Nikkei 225 retraced losses of over 1.3 percent to close down 70.39 points, or 0.44 percent, at 15,751.13. Across the Korean Strait, the Kospi finished down 1.68 points, or 0.09 percent, at 1,970.37. In Hong Kong, the Hang Seng index wavered between positive and negative territories before closing up 70.41 points, or 0.35 percent, at 20,440.81.
Australia’s ASX 200 finished down 6.08 points, or 0.12 percent, at 4,931.53.
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. Consumer inflation was down 0.4 percent on-month. The producer price index (PPI), meanwhile, declined on-year for the 49th consecutive month, down 4.3 percent, but at a slower rate of decline than in February.
Analysts said that the relatively benign data suggested policymakers on the mainland would continue to ease policy.
Nikkei slips on yen strength, but China shares rally – CNBC}