Most Asian stock markets remained in a narrow range Monday, showing a similar trend to Wall Street's decline, as stronger-than-expected inflation data raised concerns about rising U.S. long-term interest rates.。

On Friday, Wall Street indexes fell as data showed U.S. producer price index inflation rose more than expected in January.。The report comes just days after stronger-than-expected CPI inflation data, leading traders to further rule out an early Fed rate cut this year。

In Asian trading, S & P 500 futures, Dow Jones futures and NASDAQ 100 futures gained slightly, with the focus turning to the key earnings reports from Nvidia (NASDAQ: NVDA) and Wal-Mart (NYSE: WMT) due later this week.。Markets will be closed given that Monday is a national holiday in the U.S.。

China stocks reopen, but recovery outlook remains uncertain。Chinese shares reopen after week-long holiday, but gains limited。China's Shanghai-Shenzhen 300 Index and Shanghai Composite Index each rose 0.5% and 1%, further rebounding from multi-year lows set in early 2024。

On the other hand, Hong Kong's Hang Seng index had its worst performance on Monday, falling 1.1%, after a sharp rise last week in anticipation of China's reopening.。

According to official data released last week, China's consumer spending rose sharply during the Spring Festival holiday, while tourism demand exceeded pre-epidemic levels。

However, it is unclear whether this is a one-off phenomenon or the start of a sustained recovery.。

Other Asian markets are flat to sluggish。Japan's Nikkei 225 down 0 on profit-taking.3%, but remains at near all-time high。

Nintendo Inc. (TYO: 7974) has reportedly lost 6 percent of its shares as delivery of a successor to its high-profile Switch gaming system is delayed until 2025..2%。Australia's ASX 200 is essentially flat, while South Korea's KOSPI is up 0.8%, boosted mainly by heavyweight chip-making stocks。

Memory chip maker SK Hynix (SZ: 000660) rose more than 4% to hit a record high at one point amid heightened expectations of AI development。

Most Southeast Asian bourses were flat, while Nifty 50 index futures on India's Bombay bourse signaled a calm market, in line with limited changes in Asian markets.。