Asian Stocks Slip, Kiwi Drops on Inflation Outlook – Asia Market Wrap

Stocks in Asia were generally lower as China’s surge stalled and attention switched to a flood of growth and inflation data this week. The New Zealand dollar declined.

The kiwi fell 1%, along with government bond yields, as the Reserve Bank of New Zealand issued less aggressive views on inflation, highlighting the fact that most indicators of price expectations have fallen. The central bank maintained policy rates as expected by economists.

Hong Kong stocks moved as traders responded to the government’s budget statement. A rise in developer shares after the city removed property limitations was insufficient to overcome drops led by the technology sector. Chinese shares slumped following a recent run that brought gauges near resistance levels, with traders expecting for impetus from this week’s manufacturing report and a critical political summit in Beijing next week.