Asian stocks mostly fell Monday as traders struggled to maintain momentum from last week’s rally, though Shanghai advanced as mainland Chinese markets reopened after a week-long Lunar New Year break.
Even a strong performance on Wall Street was not enough to lift sentiment across the region, after data showed the Federal Reserve’s preferred gauge of inflation rose in December at its slowest pace in more than a year.
The reading saw dealers ramp up bets on the central bank lifting interest rates this week by just 25 basis points, down from the half-point hike last month, which followed four straight 75-point increases.
The European…
