Asia stocks set to slip amid renewed US-China trade concerns

In Hong Kong, ESR Cayman is set to make its public debut on Friday, which is expected to be the second largest IPO for the city this year. That would follow Budweiser APAC's IPO — the second largest globally this year — in Hong Kong inSeptember.

A private survey of factory activity in China is expected later on Friday, with the Caixin/Markit Purchasing Managers's Index for the manufacturing sector set to be out around 9:45 a.m. HK/SIN. That comes a day after official data showed manufacturing activity in ChinaInvestors will watch for developments in U.S.

That development came amid recent optimism for a "phase one" deal to be signed between the two economic powerhouses soon. The deal had been initially been expected to be signed at a November summit in Chile, an event which has since been canceled by the country due to ongoing anti-government protests.

Old excuse recycled as a new excuse in hopes of generating greater volatility for the benefit of Wall Street trading firms. Assist to CNBC.

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