Asian markets extend losses after Chinese inflation data

Asian stocks fell to a one-week low today (June 9th) after new data revealed that China's consumer price inflation in June was slightly under expectations.

China's consumer price index (CPI) eased to 2.3 per cent down from the prior month's reading of 2.5 per cent.

"The weaker CPI reading suggests inflation pressure is muted. It provides further room for policy easing in the future on the one hand, and also signals the weak demand from the domestic economy on the other hand," Wang Jun, an economist at the China Centre for International Economic Exchanges in Beijing, told Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8 per cent, while Japan's Nikkei stock average ended down 0.1 per cent.

The broader Topix slipped 0.4 per cent to 1,270.82, and the JPX-Nikkei Index 400 dropped 0.2 per cent to 11,551.84 .

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