Asian markets react to US inflation data and China's inflation reports.

Asia-Pacific markets traded mixed as investors digested the U.S. consumer price index, which rose less than expected for April. China's inflation rate for April came in slower than expected at 0.1%, compared to the 0.4% forecasted in a Reuters poll. The Nasdaq Composite added 1.04% as investors fled to technology stocks on the tamer-than-expected inflation report, while the S&P 500 advanced 0.45%. Meanwhile, New Zealand's food inflation rose 12.5% YoY in April, the largest increase since September 1987, and the Philippines' first quarter GDP grew 6.4% YoY, beating expectations.