Stocks in Asia were set to trade lower on Monday as investors remained concerned over last week’s escalation in the U.S.-China trade war.
President Donald Trump said Thursday that the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1. The announcement roiled global stock markets.
Shares in Australia were also poised to see opening declines, with the SPI futures contract at 6,708.0. That was a touch lower than the S&P/ASX 200′slast close at 6,768.60.
Meanwhile, investors will watch for market reactions in Hong Kong as a general strike aimed at bringing the city to a pause planned for Monday.
On the economic data front, the Caixin services Purchasing Managers’ Index in China is due at 9:45 a.m. HK/SIN.
ASIA-PACIFIC MARKET INDEXES CHART
TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
---|---|---|---|---|---|
NIKKEI | Nikkei 225 Index | NIKKEI | 20845.66 | -241.50 | -1.15 |
HSI | Hang Seng Index | HSI | 26918.58 | 0.00 | 0.00 |
ASX 200 | S&P/ASX 200 | ASX 200 | 6745.20 | -23.40 | -0.35 |
SHANGHAI | Shanghai | SHANGHAI | 2867.84 | 0.00 | 0.00 |
KOSPI | KOSPI Index | KOSPI | 1974.57 | -23.56 | -1.18 |
CNBC 100 | CNBC 100 ASIA IDX | CNBC 100 | 7860.66 | -25.80 | -0.33 |
The renewed trade jitters between Washington and Beijing last week sent the S&P 500 stateside to its worst weekly drop of 2019, falling 3.1%. The Dow Jones Industrial Average had its second-worst week of the year, declining 2.6%.
U.S.-China trade war developments have affected markets for more than a year, and there have been signs the rafts of additional tariffs from both sides are having real effects on economies around the world.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.106 after seeing levels above 98.7 last week.
The Japanese yen traded at 106.55 against the dollar after strengthening from levels above 108.8 in the previous trading week. Elsewhere, the Australian dollar changed hands at $0.6794 after declining from highs above $0.688 last week.
Here is a look at some of the data set to be released ahead: