Asia-Pacific shares drop as investors look ahead to Fed meeting, U.S. inflation this week

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan.

Toru Hanai | Bloomberg | Getty Images

Shares in the Asia-Pacific declined Monday as investors looked ahead to a Fed meeting and U.S. inflation data this week.

Hong Kong’s Hang Seng index fell 1.14% in early trade, leading losses in the region.

In Australia, the S&P/ASX 200 was down 0.54%. Japan’s Nikkei 225‘s fell 0.36% while the Topix slid 0.15%.

South Korean benchmark Kospi shed 0.69%, and the Kosdaq dipped 0.47%. The MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.03%.

Mainland China’s Shanghai Composite lost 0.46% and the Shenzhen Component was down 0.358%.

On Monday, India is scheduled to release inflation and industrial output data.

Later this week stateside, the Federal Reserve is set to begin its two-day meeting on Tuesday. Economists widely expect the U.S. central bank to raise rates by half a percentage point Wednesday.

The latest reading for the U.S. consumer price index is also slated for Tuesday. Analysts polled by Reuters expect the index rose 0.3% in November.

—CNBC’s Patti Domm contributed to this report.

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