Asian Stocks Edge Lower Amid Inflation Concerns

Asian stock markets began the week on a mixed note, with some indices slipping into negative territory while others held steady or even gained ground. The MSCI Asia-Pacific Index of regional equities dipped 0.2% overall, weighed down by declines in Japan and Australia's benchmark gauges.

The yen, however, continued its upward trend, surging to its strongest level since February against the US dollar. This move has been attributed to growing bets on Bank of Japan interest rate hikes, which have shifted sentiment towards the currency.

In contrast, South Korea's Kospi index rose, bucking the regional trend. The advance in oil prices due to Middle East tensions and inflation concerns also kept investors cautious about further monetary policy tightening.