Asia stocks set to trade lower as new US-China trade tariffs go into effect

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Stocks in Asia were set to decline at the open on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend.

A private survey on China's manufacturing sector is due at 9:45 a.m. HK/SIN on Monday. Official data released over the weekend showed factory activity in China shrinking for the fourth month in a row in August.

A planned general strike in Hong Kong on Monday will also be watched, following another round of fresh protests that occurred in the city over the weekend. Futures pointed to a lower open for Japanese shares, with the Nikkei futures contract in Chicago at 20,555 while its counterpart in Osaka was at 20,660. TheShares in Australia were also poised to slip at the open, with the SPI futures contract at 6,566.0, as compared to theInvestors will watch for reaction to the tariffs by both Washington and Beijing that went into effect on each other's goods over the weekend. U.S.

 

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