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Asia stocks set to dip amid US-China trade uncertainty

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CNBC's Eunice Yoon reported Monday, citing a government source, that Beijing is pessimistic about the trade deal.

said there would be no tariff rollback, Beijing had thought both parties had agreed in principle, Yoon reported.

That came following a report over the weekend by Chinese state media that "constructive" trade talks had occurred at a high level between Beijing and Washington. The two economic powerhouses have been working toward reaching a "phase one" deal, expected to be signed soon, following a tariff war that has lasted for more than a year and dented investor sentiment.

"Our preference remains on putting more weight on comments coming directly from officials dealing with the trade negotiations and on this score there is nothing to contradict the view that the US and China are still working towards striking a deal," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.

Overnight stateside, stocks ended the trading day on Wall Street little changed amid the trade uncertainty. The

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Asia stocks set to trade higher as investors watch for US-China trade updatesStocks in Asia were set to trade higher at the open on Monday as investors look for further developments on U.S.-China trade.
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