Asian Markets React to Tariff Ruling Amid Global Economic Uncertainty

Asian shares started the new month with declines on Monday following a court ruling that complicated U.S. tariff policy, causing investors to prepare for an important U.S. jobs report influencing potential rate cuts.

The U.S. holiday contributed to a subdued trading environment, though Wall Street and European futures showed slight gains after Friday's retreat. The dollar and bonds exhibited minimal movement ahead of a crucial data week, featuring manufacturing, services surveys, and the pivotal August payroll report.

The U.S. Court of Appeals declared some of President Trump's tariffs illegal, maintaining a wait for a Supreme Court appeal. This ruling generates uncertainty over ongoing trade negotiations, affecting market dynamics as investors also respond to political pressures on the Federal Reserve and fluctuating commodity prices.

(With inputs from agencies.)