By Gina Lee

Investing.com – Asia Pacific stocks were mostly down on Monday morning after China released its latest trade data. Investors will continue to track the effect of inflation on monetary policy as well as the rate of economic recovery.

China’s edged up 0.14% by 10:14 PM ET (2:14 AM GMT) while the inched down 0.10%. It was revealed that October’s growth rate in China increased by 27.1%, while it grew at 20.6% annually and stood at $84.54 Billion.

Additional data such as the price indexes and other information are expected on Wednesday.

The Chinese Communist Party’s Central Committee will start its meeting, its first in more than a year later in the day. It will continue until Nov. 11.

Hong Kong’s fell 0.47%.

Japan’s edged down 0.19% and South Korea’s slid 1.12%. Australia’s was down 0.2%.

Australian bond prices rose after U.S. Treasury yields for 10-years dropped below 1.5%.

According to the U.S. Job Report, Friday’s data showed that the number of jobs increased by 531,000 more than was expected, while the decreased to 4.6% for October.

“The strong jobs report is a welcome sign that the COVID Delta wave-driven slowdown was indeed transitory. This bodes well for the expansion, which is set to continue in the coming months, driving earnings and economically sensitive sectors higher,” Janus Henderson Investors director of research Matt Peron told Bloomberg.

U.S. President Joe Biden claimed Friday that the U.S. economic recovery from the pandemic is faster and more robust than expected. Fed Bank of Kansas City President Esther George said that high inflation and bottlenecks will continue well into 2022 despite broadening prices pressures.

George’s comments indicated that the debate about inflation continues to cast a shadow over markets.

“Inflation is the major headwind right now. There is a disconnect at this point between some of the expectations that we have about inflation and what consumers are feeling on the ground,” Envestnet (NYSE:) co-chief investment officer Dana D’Auria told Bloomberg.

Positive results in a Paxlovid study on COVID-19, Pfizer Inc.’s (NYSE) Covid-19 Pill, gave stocks an additional boost. Albert Bourla, CEO of Pfizer, told Bloomberg that they are aiming to present the Paxlovid results to U.S. regulators no later than Nov. 25,