Asian stocks reach 15-month highs amid China's 0.3% annual inflation increase, but US tariff plans weigh on sentiment.

Asian stocks edge to 15-month highs as US inflation looms; China activity data expected to test optimism. China reports 0.3% annual inflation increase in April, raising hopes for sustained recovery. Authorities set to sell $138.24bn in longer-dated bonds to fund stimulus spending. Mixed data in China and US plans to raise tariffs on Chinese goods weigh on sentiment.