China Inflation Rises-Euro Relief Rally Falters

Asia Pacific market were weaker late in the session after CPI figures from China rose 2.8 % in April,marking the fastest  pace  in 18 months. Analyst estimate had called for a reading 2.7%. Property prices continue to soar with, with the NCRC housing price index rising 12.8%, beating consensus estimates of a rise of only 11.6%. The news fueled concerns that  the government may raise rates in an  attempt to combat inflation. China has been trying to cool an overheating   economy and prevent a burst in the nation's surging property bubble. Just last week, the government raised reserve requirement for the third time this year.With today's data ,it seems likely officials  will implement additional policy tightening measures,which will implement additional policy tightening measures, which will stand to limit advance in composite fell by 1.9%, with the Hang Seng