Stocks in Asia were mixed overnight, with the Nikkei (^N225) down 0.7% on the day in Japan, while the Hang Seng (^HSI) fell 0.4% in Hong Kong.
It came after a survey showed Japan’s factory activity remained in contraction for the second month in August. The S&P Global flash Japan Manufacturing Purchasing Managers’ Index (PMI) increased to 49.9 in August from 48.9 in July, just below the 50 level that indicates growth.
Regional manufacturers have been feeling pressure from Trump’s higher tariffs on exports to the United States.
Elsewhere, the Shanghai Composite (000001.SS) eked out a 0.1% gain by the end of the session and in South Korea, the Kospi (^KS11) added 0.4% on the day.
Across the pond on Wall Street, declines at the end of the day were not nearly as stark as during early trading. The S&P 500 (^GSPC) closed 0.2% lower at 6,395.78, and the tech-heavy Nasdaq (^IXIC) fell by 0.67% to 21,172.19. The Dow Jones (^DJI) ended flat on the day.
Today traders will start looking for clues on the outlook for US monetary policy from a meeting of central bankers that begins later today in Jackson Hole, Wyoming. Federal Reserve chair Jerome Powell is due to speak to the conference on Friday.
