Asian stocks fell sharply on Monday, as battle loomed in Ukraine's east and the Shanghai coronavirus outbreak worsened.
With Chinese inflation figures painting a mixed picture of the economy, investors looked ahead to the ECB policy meeting and the release of U.S. inflation data this week for additional clues about the interest rate outlook.
China's Shanghai Composite Index slumped 2.6 percent to close at 3,167.13, as Covid curbs in the country threatened to exacerbate supply-chain snarls. Hong Kong's Hang Seng Index plunged 3 percent to 21,208.30 on worries about inflation risks and tightening financial conditions.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.