Shares slip as latest customs price; Yuan Lower: Markets Wrap

(Bloomberg) – Asian stocks fell with US stock futures after the recent tariffs were started on Chinese goods and data showed further weakness in China's manufacturing sector. The yen settled higher and the yuan withdrew.

Japan and Hong Kong saw modest stock declines, while Chinese stocks were little changed. S&P 500 futures fell 1% before mating losses, and government contracts advanced. President Donald Trump's $ 110 billion tariff on Chinese imports came into effect on Sunday, as China did retaliatory duties. Cash funds will not trade and US stock markets will be closed during Labor Day holidays. The dollar was steady.

Investors still likely from an unstable August that saw a fall in government yields and a fall in global equities. A fall in the official China purchasing chief's index on Saturday highlighted the pressure that the world's second-largest economy is facing from weaker demand and escalating trade tensions with the United States.

"It's a long way to go," says Chief Shane Oliver, Head of Investment Strategy at AMP Capital Investors Ltd. in Sydney. "The equity markets may still have to fall further to pressure Trump to solve the problem."

Elsewhere, the Argentine government is suspending currency controls to stop the flight out of the country when it swirls on the brink of default. In the UK, Boris Johnson sounded anything but the electoral gun and asked lawmakers from his party to support his Brexit plan or risk finding another party.

Here are some important events coming up:

Australia sets monetary policy for Tuesday. Speakers include New York Fed's John Williams on Wednesday and Fed leader Jerome Powell on Friday. The US labor reports on Friday are estimated to show that non-farm wage levels rose by 165,000 in August, just over the month before. Estimates of the employment situation are for unemployment to be steady at 3.7% and the average hourly wage increase to 3.0%.

These are the most important features of the markets:

Shares

Futures on the S&P 500 index fell 0.4%. The underlying meter was down 0.1% on Friday. Japan's Topix index fell 0.4%. South Korea's Kospi went down 0.3%. Hong Kong's Hang Seng slipped 0.3%. Shanghai Composite changed little. Australia's S & P / ASX 200 index slipped 0.1%. [19659011] Currencies

The Yen rose 0.1% to $ 106.18 per dollar from 10:30 AM in Tokyo. The offshore yuan slid 0.1% to $ 7.1715 per dollar. The euro was down 0.1% to $ 1.0990. Kiwi sank 0.5% to $ 62.95 US cents. The Bloomberg Dollar Spot index was flat. The British pound was stable at $ 1.2159.

Bonds

Futures on 10-year government bonds advanced around 0.2%. The yield on 10-year government bonds was less than one basis point to 1.50% on Friday. Australia's 10-year return added one basis point to 0.90%.

Commodities

Middle Texas West Texas fell 0.2% to $ 54.97 per barrel .Gold rose 0.3% to $ 1,525.48 per gram.

To contact the reporter about this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey @ bloomberg. net, Cormac Mullen

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