Japanese stock market traded flat, while Hong Kong shares rebounded after Hong Kong markets fell last week owing to the continuing protests in the city. Australian, Chinese, and South Korean stocks fell.
The yuan fell after the People’s Bank of China decreased its 7-day reverse repo rate.
White House economic adviser Larry Kudlow commented that US-China talks were nearing final stages on Friday. On Saturday, the Chinese Commerce Ministry said that the US and Chinese trade negotiators held “constructive discussions” in a phone call about the phase-one deal, Bloomberg reported.
Meanwhile, Saudi Arabia has set a valuation target for Aramco’s initial public offering at $1.7tn, which is below Crown Prince Mohammed bin Salman’s goal of $2tn.
US futures, meanwhile, edged lower on Monday.