"Asian Stocks Slip as Rate-Cut Hopes Ease Amid Inflation Concerns"

Asian stocks slipped as markets reevaluated expectations for early interest rate cuts following a surprise jump in US nonfarm payrolls, with focus shifting to a string of key inflation readings this week. Regional trading volumes were subdued by a market holiday in Japan, and a devastating earthquake in central Japan further rattled sentiment towards Japanese markets. Broader Asian indexes kept to a tight range, with China's and Hong Kong's indexes falling, while South Korea's was flat. Markets also face a test with inflation reports from several major Asian economies and the US, with expectations of a slight pick-up in US inflation and little impetus for aggressive policy loosening by the Fed.