Asian stocks fall after Australia inflation accelerates

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Global stock markets are lower after Australian inflation rose to a six-year high and a Chinese newspaper warned more property developers might default on bonds. Investors looked ahead to U.S. economic growth data due out this week. London and Frank opened lower, shrugging off strong U.S. corporate profits. Shanghai, Tokyo and Hong Kong declined. The Australian inflation report highlighted investor fears central banks might feel pressure to cool rising prices by rolling back stimulus that is pushing up stocks. The Chinese newspaper Global Times cited industry analysts as saying more developers were likely to default amid pressure from regulators to cut their debt levels.