Inflation Worries Weigh on Asia

Asia-Pacific markets mostly fell on Tuesday as investors remain concerned about inflation as well as likely policy tightening from central banks such as the U.S. Federal Reserve.

In Japan, the Nikkei 225 returned from a long weekend to lose 256.08 points, or 0.9%, to 28,228.48.

Elsewhere, the Japanese yen changed hands at 115.24 per U.S. dollar, strengthening from an earlier level around 115.38.

The Hang Seng index in Hong Kong deducted 7.48 points to 23,739.06.

Australian markets fell back. The heavily weighted financials sub-index declined 1% as the country’s major banking names sold off amid growing expectations that the U.S. central bank might raise rates quicker than previously anticipated. Commonwealth Bank of Australia shares declined 1.51% and ANZ fell 1.3%.

The Australian dollar traded up 0.25% to $0.7186.

In other markets

In China, the CSI 300 subtracted 46.27 points, or 1%, to 4,797.77.

In Korea, the Kospi index inched ahead 0.66 points to 2,927.38.

In Taiwan, the Taiex index gained 48.83 points, or 0.3%, to 18,288.21.

In Singapore, the Straits Times Index moved higher 19.32 points, or 0.6%, to 3,246.37.

In New Zealand, the NZX 50 fell 61.21 points, or 0.5%, to 12,831.73.

In Australia, the ASX 200 retreated 56.95 points, or 0.8%, at 7,390.12.