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Sunday, September 9, 2018

Asia markets set for lower open as US-China trade jitters linger

Asian markets are set for a lower open on Monday as trade tensions between the U.S. and China remain in focus.

Nikkei futures in Chicago were at 22,325, while futures in Osaka were at 22,330. The Nikkei 225 last closed on Friday at 22,307.06.

SPI futures in Australia were at 6,108 compared to the last close of the ASX 200 at 6,143.8.

Wall Street ended the trading week in negative territory on Friday. The Nasdaq Composite slid by 0.3 percent to close at 7,902.54, declining for the fourth straight day and posting its worst start to September since 2008. The S&P 500 fell 0.2 percent to close at 2,871.68. The Dow Jones Industrial Average dropped by 79.33 points to 25,916.54.

The moves stateside came after U.S. President Donald Trump said on Friday that the country was primed to impose tariffs on an additional $267 billion worth in Chinese goods. Trump's comments came following the end of a deadline for public comment on U.S. tariffs for another $200 billion in Chinese goods.

While the U.S. tariffs on $200 billion Chinese goods have not been implemented, Trump said they could "take place very soon, depending on what happens with them."

The U.S. dollar index, which tracks the greenback against a basket of currencies, was at 95.393 as of 6:52 a.m. HK/SIN, slightly off its high from last Friday but largely holding on to its gains.

The Japanese yen strengthened slightly against the greenback at 110.99, while the Australian dollar also saw a mild gain at $0.711, as of 6:57 a.m. HK/SIN.

— CNBC's Fred Imbert contributed to this report.

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