Asian stocks excluding Japan decline after China CPI accelerates

Asian stocks plummeted on overheating signs after China's inflation accelerated. Japanese shares surged as the Cabinet approved monetary-easing measures. The MSCI Asia Pacific Excluding Japan Index dropped 0.3% to 476.07, while China's Shanghai Composite Index fell 1.8%; Hong Kong's Hang Seng Index declined 0.4% and Australia's S&P/ASX 200 Index soared 0.3%. Whereas South Korea's Kospi Index lost 0.5% as its key rate remained unchanged.