Asian markets fell on Monday amid continued US-China trade tensions and escalating violence in Hong Kong.
Hong Kong police on Monday shot at least one protester as protesters blocked subway lines and roads during the morning commute. Police tried to disperse crowds with pepper spray and tear gas. Hong Kong is in the sixth month of protests that started over a proposed extradition law and has expanded to include demands for greater democracy and police accountability.
On the trade front, President Donald Trump on Friday sparked speculation about the return of tariffs, saying he has not yet agreed to remove tariffs on Chinese goods, even though Beijing wants him to.
"President Trump's comments sounded more like a negotiating tactic than an actual threat, and Wall Street seemed to agree," Jeffrey Halley, senior Asia-Pacific market analyst in Oanda, wrote in a note Sunday, noting Wall Street closed at record highs Friday.
gave up early gains and fell 0.3%, while Hong Kong's Hang Seng Index
tumbled 2.6%. Shanghai Composite
slipped 1.8% following data that China's consumer inflation rose to its highest point in almost eight years in October.