G20 countries agreed to work to support global growth and better share the benefits of trade, in a meeting dominated by the impact of Brexit and fears of rising protectionism.
Duties on the materials, used in power transformers and electric motors, will range from around 37 to as high as 46.3 percent, the commerce ministry said on its website.
The preliminary reading compared with 52.4 in June and crucially took the PMI below the boom-or-bust 50 points barrier that signals contraction, Markit said.
The Bank of Korea said Friday that its estimates showed the impoverished economy likely contracted mainly because of a huge downturn in power generation and manufacturing.
"It might be a little bit early to draw firm conclusions but it certainly looks as though the second half of the year will be weaker than the first." said analyst Philip Shaw.
The dollar stood little changed at 105.84 yen after coming off its peak of 107.49, its highest in six weeks, the previous day.
We have no doubt that these mergers would reduce competition from what it is today, said Principal Deputy Associate Attorney General William Baer, who spearheaded the antitrust reviews.
Saudi Aramco says the Fadhili project will increase the kingdom's natural gas production to 17 billion standard cubic feet per day by 2020.
The settlement requires ABI to divest SABMiller's entire U.S. business - including SABMiller's ownership interest in MillerCoors,the worldwide Miller beer brand rights.
Last week the British central bank surprised markets by keeping interest rates on hold, rather than cutting them to a record low.
The CSI300 index was unchanged at 3,247.90 points at the end of the morning session, while the Shanghai Composite Index was also unchanged at 3,035.87 points.
IMF cited uncertainty from Britain's vote last month to quit the European Union as a major factor for its downgrade
The popularity of Pokemon GO is producing an unexpected boom in some shares that have a scant link to the game.
Non-oil domestic exports fell 2.3 percent last month from a year earlier, the trade agency International Enterprise Singapore said in a statement on Monday.
The US dollar gained on the yen in Asia on Monday as investors unwound safe-haven trades in the wake of the attempted coup in Turkey
Oil prices have fluctuated between $44 and $52 a barrel over the past month after hitting near 13-year lows below $30 in February.
Wall Street shares have quickly recovered the losses triggered by Britain's vote on June 23 to leave the European Union, driven by upbeat US economic data.
Theresa May is due to become the Britain's new prime minister on Wednesday after the ruling Conservative Party's leadership contest was cut short when her only remaining rival dropped out of the race on Monday.
"There are no good alternatives, from an income standpoint, to the US equity markets at this point, and that's driving the momentum today," said US Bank Private Client Group chief investment officer.
The IMF said in its formal annual review of the US economy and policies that the Brexit vote has prompted a rise in the dollar that has been less than feared, up about 1 per cent in nominal effective terms.
The outcome of last month's British referendum has rocked financial markets on the continent, with the threat of a recession in one of the single currency area's main trading partners increasingly being seen as a certainty.
With major political developments back home in Australia and in the UK, market experts believe the whole situation is giving investors lot to cheer
On Wall Street, the S&P 500 index on Monday broke a new record high, its first in more than a year, extending its gain after Friday's bumper job figures reduced worries about slowdown in employment.
Stock market experts believe that a strong Wall Street and upbeat second-quarter earnings guidance from many of the local companies pulled equities up.
Toyota Motor Corp soared 4.1 percent, Honda Motor Co gained 4.4 percent and Panasonic Corp jumped 5.5 percent.
According to IMF predictions, Italy, long one of Europe's most sluggish economies, will struggle to close the gap with its peers even if recent reforms are fully implemented.
The gains on Wall Street reflected continued momentum from Friday's surprisingly strong US jobs report, which raised hopes that the American economy was strengthening.
Traders also noticed that the direction of the fixing was not in line with market expectations of the midpoint to weaken slightly but the central bank strengthened it instead.
The Asian rebound came after news the US economy added 287,000 jobs last month, well above median forecasts and recovering from a very weak May report.
Bond market issuance has shifted towards lower maturities over the past year and a half, which leaves the market vulnerable to sudden downturn in the event of sharp funding crunch.
Businesses that rely on EU workers say the uncertainty has already created hardship for their staff and hurt their recruitment plans.
The release of the US jobs report later in the session will give investors a brief chance to shift their focus away from the aftermath of Brexit.
The Dow Jones industrial average fell 22.74 points, or 0.13 percent, to 17,895.88, the S&P 500 lost 1.83 points, or 0.09 percent, to 2,097.9.
With past overseas events of similar importance, such as the euro zone debt crisis, it has taken the Fed months to get clarity.
The Aussie initially fell half a US cent to $0.7470 after Standard and Poor's cut the country's outlook to negative from stable citing a need for fiscal repair.
The euro jumped as high as 86.26 pence, its highest since August 2013, and was last up 0.9 percent at 85.76 pence.