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Asia Markets: Asian markets mostly lower as trade tensions show no sign of fading

Asian markets were mostly lower in early trading Monday, as global trade tensions showed no signs of easing.

On Sunday, the White House said President Donald Trump was “deadly serious” about imposing punitive tariffs against all imports from Mexico unless the stream of migrants crossing the border was significantly slowed. Meanwhile, China blamed the U.S. for the breakdown in trade talks, and said it won’t back down, although it left the door open for further negotiations with the U.S.

On Monday, the private Caixin gauge found China’s factory activity was flat in May, though still in expansion territory, contrary to previous data that indicated cooling manufacturing activity.

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