Asia-Pacific markets, CPI data, Fed, Hang Seng Index

Chinese and Hong Kong flags flutter as screens display the Hang Seng Index outside the Exchange Square complex, which houses the Hong Kong Stock Exchange (HKEX), on January 21, 2021 in Hong Kong, China.

China News Services | China News Services | Getty Images

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

Hong Kong’s Hang Seng index fell 2.2% to end off at 19,463.63, leading losses in the region. The Hang Seng Tech index shed 4.05% to close at 4,192.67.

In Australia, the S&P/ASX 200 closed down 0.45% to stand at 7,180.8. Japan’s Nikkei 225 fell 0.21% to end at 27,842.33 while the Topix slid 0.22% to 1,957.33.

South Korean benchmark Kospi closed down 0.67% at 2,373.02, and the Kosdaq dipped 0.59% to 715.22. The MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.13%.

Mainland China’s Shanghai Composite closed at 3,179.04 after losing 0.63%, and the Shenzhen Component was down 0.673%

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 US central bank to raise rates by half a percentage point Wednesday.

The latest reading for the US 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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