Asia stocks trade lower as U.S.-China tensions remain; Japan’s economy shrinks in second quarter
Stocks in Asia Pacific traded lower Monday morning as tensions between the U.S. and China continue to weigh on investor sentiment.
Japan’s Nikkei 225 slipped 0.37% in early trade while the Topix index dipped 0.16%.
Japan’s economy shrank 27.8% on an annualized basis in April-June, according to government data released Monday. That was the sharpest contraction on record, according to Reuters. The preliminary reading for Japan’s second-quarter gross domestic product compared against economists’ median estimate of a 27.2% decline, Reuters reported.
Shares in Australia also declined, with the S&P/ASX 200 down 0.27%.
Overall, the MSCI Asia ex-Japan index traded little changed.
Markets in South Korea are closed on Monday for a holiday.
Reference: CNBC
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