By Gina Lee Investing.com – Asia Pacific stocks rose mostly on Monday morning, with volumes reduced by the closure of two of the region’s major markets and a resurgence of inflation concerns. The Chinese and Japanese markets are closed for the holidays. In Australia, it was up 0.14% at 10:30 PM ET (2:30 AM GMT), ahead of the Reserve Bank of Australia due for delivery on Tuesday. April’s reading, released earlier in the day, was at 61.7, higher than March’s 59.9 reading. South Korea’s rose 0.05%, while Hong Kong’s slipped 1.45%. Yields on US Treasuries remained above the 1.6% mark at the close of the previous session. Inflation concerns have returned to the limelight, as US economic data, Including and released during the previous week, indicated possible inflationary pressures and increased rumors about a possible pullback in the central bank support. Investors are also concerned that central banks may begin to phase out their asset purchase programs that have supported the recovery earlier than expected. The chairman of the US Federal Reserve Bank of Dallas said on Friday that signs of excessive risk-taking suggest it is time to start debating a reduction in bond purchases, in direct contrast to politics. current moderate central bank. Kaplan does not currently vote on the rate-setting committee, but investors will pay close attention to comments from Federal Reserve Chairman Jerome Powell, due later in the day, and from other policymakers. from the Fed later in the week. On the data front, the US will release more economic data, including April, during the week, and nearly a million jobs are forecast to be created during the month as Americans spend their stimulus controls and the economy. The US continues to recover from COVID. 19. However, some investors noted that the US is still on the road to recovery. “Payrolls should show another gain of nearly 1 million jobs, but that would put them 7.5 million below pre-COVID levels,” NAB. Chief Financial Officer Tapas Strickland told Reuters. “Powell recently noted that it would take a series of months of job creation of about a million a month to make the substantial progress required to justify the reduction in QE,” Strickland added. Other investors also played down inflation fears by focusing instead on the Fed’s next moves. “Interest rates going forward will be driven more by expectations of the Fed’s downsizing than inflation,” Gulf Investment Corp. head of debt capital markets Raffaele Bertoni told Bloomberg. On the COVID-19 front, India continues to grapple with a virulent second wave of cases. The daily number of COVID-19 cases surpassed the 400,000 mark on Sunday, before dropping again to 392,488 on Monday, according to the country’s Ministry of Health and Family Welfare.