The E-mini futures for U.S. S&P500 ESc1 fell as much as 1.06% in early trade and last stood down 0.39% while U.S. Treasuries futures prices TYv1 rose a tad.
Volumes remained thin in Asia ahead of a U.S. public holiday and European shares are expected to open little changed, with pan-European Euro Stoxx 50 futures STXEc1 almost flat in early Monday trade.
· Stocks in Asia were mixed on Monday as the latest round of U.S. and China tariffs kicked into effect over the weekend, while investors digested better-than-expected Chinese manufacturing data.
Overall, the MSCI Asia ex-Japan index fell 0.32%.
· Japanese shares slipped on Monday after the United States and China imposed more tariffs on each other’s goods, escalating a dispute that is increasingly weighing on export-reliant Asia and disrupting global trade.
Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday, while Beijing started imposing new duties on U.S. crude oil on the same day.
The Nikkei stock average ended down 0.41% at 20,620.19 points.
· Chinese share-market benchmarks rose over 1% and the yuan steadied on Monday morning despite Beijing and Washington pressing ahead with a new round of tariffs over the weekend.
The blue-chip CSI300 index rose 1.1%, to 3,841.82 points, while the Shanghai Composite Index also gained 1.1%, to 2,917.13 points.
Investors drew confidence from solid corporate earnings, as well as a surprise expansion in a private survey’s calculation for August factory activity.
The pan-European Stoxx 600 climbed 0.3% after the opening bell, basic resources jumping 0.6% to lead gains as all sectors and major bourses traded in positive territory.
The U.S. stock and bonds markets are closed for Labor Day.
Reference: CNBC,Reuters
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