Asian markets close lower with China's inflation worries

By Ovunc Kutlu

ANKARA (AA) - Major stock exchanges in Asia closed lower on Monday as rising inflation in China creates worries for investors.

The Asia Dow, which includes blue-chip companies in the region, was down 41 points, or 1.17%, to 3,504 points at 0910GMT.

Tokyo’s Nikkei 225 stock exchange fell 164 points, or 0.6%, to 26,821.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, was the worst performer of the day, plummeting 663 points, or 3%, to 21,208.

China’s Shanghai stock exchange declined 84 points, or 2.6%, to finish at 3,167.

While China's consumer inflation rose 1.5% in March, from the same period of last year, producer inflation soared 8.3% annually, according to figures released by the National Bureau of Statistics earlier.

The rise in inflation comes at a time when China is dealing with the worst wave of COVID-19 since the beginning of the coronavirus pandemic, which further poses risks for investors.

India's Sensex benchmark was down 292 points, or 0.49%, to 59,154 at 0915GMT.

The Singapore index declined 18 points, or 0.54%, to 3,365.