Morning Report

Asian shares started the week on the backfoot on Monday as worries about global growth, U.S. politics and the ongoing Sino-U.S. tariff war kept investors cautious, while the safe-haven greenback held near a six-week top against major currencies.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was a tad weaker after it was toppled from a four-month top on Friday.
Wall Street’s main equity indexes recouped losses late on Friday, with the benchmark S&P 500 ending marginally positive and the Nasdaq adding 0.14 percent. The Dow Jones Industrial Average fell 0.25 percent.

In currency markets, the dollar held near a six-week high around 96.665 against a basket of currencies, and had its strongest weekly gain in six months, as traders piled into the greenback in a safe-haven move.

The euro was slightly weaker at $1.1321 while sterling down 0.1 percent at $1.2933.

The Australian dollar hovered near one-month lows after the country’s central bank shifted away from a previous tightening bias to say rates could now go in either direction.

The Aussie was last at $0.7092 after going as deep as $0.7060 on Friday.

Oil prices held near recent ranges with gains capped by concerns about slowing global demand.

U.S. crude was 13 cents weaker in early Asia at $52.57 per barrel while Brent had settled at $62.06 on Friday.