Asian markets close lower with China's inflation worries

ANKARA

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.