We prove a Pieri-Chevalley formula for anti-dominant weights and also a Monk formula in the torus-equivariant $K$-group of the formal power series model of semi-infinite flag manifolds, both of which are described explicitly in terms of semi-infinite Lakshmibai-Seshadri paths (or, equivalently, quantum Lakshmibai-Seshadri paths). In view of recent results of Kato, these formulas give an explicit description of the structure constants for the Pontryagin product in the torus-equivariant $K$-group of affine Grassmannians and that for the quantum multiplication of the torus-equivariant (small) quantum $K$-group of finite-dimensional flag manifolds. Our proof of these formulas is based on standard monomial theory for semi-infinite Lakshmibai-Seshadri paths, which is established in our previous work, and also uses a string property of Demazure-like subsets of the crystal basis of a level-zero extremal weight module over a quantum affine algebra.
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