Shares were mostly lower in Asia on Monday after trade talks between the U.S. and China wrapped up Friday without an agreement.
Shares dropped more than 1% in Shanghai, to 2,909.60. Japan's Nikkei 225 index lost 0.5% to 21,237.71 and the S&P ASX 200 declined 0.3% to 6,289.70. South Korea's Kospi fell 0.7% to 2,093.46. Hong Kong's markets were closed for a holiday. Shares fell in Taiwan and most of Southeast Asia.
But Liu downplayed the level of tensions, saying China could cope with the challenges posed by the trade dispute. The Trump administration said it was preparing to expand 25% tariffs to another $300 billion worth of Chinese goods, or practically all imports from China, after raising the import duty from 10%, with effect Friday.
"The lack of resolution in the latest U.S.-China trade talks coupled with continued provocative tweets from President Trump provides no relief for risk sentiment as we look to another weak start to the week for Asia markets," Jingyi Pan of IG said in a commentary.
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