Asian stocks fall amid China-EU trade jitters; inflation in focus

Investing.com--Most Asian stocks fell on Monday, with Chinese markets leading losses on the prospect of a trade war with the European Union, while anticipation of key U.S. inflation data also kept sentiment on edge.

Stronger-than-expected purchasing managers index data from the U.S. pushed up concerns that resilience in the U.S. economy will keep interest rates high for longer.Chinese markets were nursing extended losses after the European Union had earlier in June imposed steep tariffs on imports of Chinese electric vehicles. The move drew ire from Beijing and ramped up the possibility of a trade war.

Chinese stocks were nursing steep losses over the past two weeks, with sentiment towards the country and broader Asia remaining negative. Losses in Hong Kong were also driven by declines in heavyweight technology stocks.But weakness in the yen saw investors largely on guard over any potential currency market intervention by Tokyo, especially as key Japanese finance ministers warned of such a scenario.

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