Japan’s Nikkei fell on Monday morning as most cyclical sectors lost ground after a trade war between the United States and China escalated, while a drop in U.S. futures dented sentiment.
The Nikkei share average fell 0.5% to 21,237.71 at the midday break, while the broader Topix shed 0.1% to 1,547.56.
Mini S&P futures fell 1% during Asian trade, while the dollar dropped 0.3% at 109.650 yen, triggering a sell-off in Nikkei futures at one point.
The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any “bitter fruit” that harmed its interests.
Source : Reuters