Asian markets end lower on Monday amid renewed US-China trade tension

Asian markets ended lower on Monday amid renewed US-China trade tension and as the U.S. government shutdown entered its third week. Besides, political and fiscal developments in Japan and Europe also kept investors on edge. Many world leaders, including Trump, are due to meet in Egypt to discuss ceasefire plans for Gaza. China’s Shanghai Composite index ended marginally lower, recouping most early losses after China’s foreign trade showed surprising strength in September, with both exports and imports beating forecasts. Hong Kong’s Hang Seng index fell on renewed Sino-U.S. trade tensions. Beijing on Sunday defended its latest export control measures on rare earths and related items as a response to U.S. aggression but stopped short of imposing new levies on U.S. products. Seoul stocks ended lower and snapped a three-day winning run. Meanwhile, the Japanese market was closed for National Sports Day.