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Asian markets end lower on Monday

03 Sep 2018 Evaluate

Asian equity markets ended lower on Monday as weekend US-Canada trade talks ended with no deal and data showed China's manufacturing sector recorded the weakest growth in 14 months in August. After contentious US-Canada trade talks ended on Friday with no deal to revamp the North American Free Trade Agreement (NAFTA), US President Donald Trump said that Canada ‘will be out’ of the deal unless the revised version is ‘fair’ to America. The talks would resume on Wednesday with the aim of eventually hammering out a trilateral deal. Chinese shares ended slightly lower after a private survey showed that China's manufacturing activity growth slowed in August on weaker new orders. The Caixin Purchasing Managers' Index fell to 50.6 in August from 50.8 in July. The score signaled the weakest improvement since June 2017. Production grew at the fastest pace since the start of the year. However, demand conditions softened, with total new business rising at the slowest pace for 15 months. Further, Japanese shares ended lower as renewed trade tensions helped spur safe-haven demand for the yen. Meanwhile, Japan's manufacturing growth improved slightly in August, final survey figures from IHS Markit showed. The Nikkei flash manufacturing Purchasing Managers' Index rose to 52.5 from 52.3 in July. That was in line with the flash data published on August 23.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,720.74

-4.51

-0.17

Hang Seng

27,712.54

-176.01

-0.64

Jakarta Composite

5,967.58

-50.88

-0.85

KLSE Composite

1,813.58

-6.08

-0.33

Nikkei 225

22,707.38

-157.77

-0.69

Straits Times

3,207.20

-6.28

-0.20

KOSPI Composite

2,307.03

-15.85

-0.69

Taiwan Weighted

10,964.22

-99.72

-0.91

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