* MSCI Asia ex-Japan off 0.2%; Nikkei down 0.1%
* German shares seen lower; FTSE futures point slightly
higher
* China says it wants to make a trade deal as soon as
possible
* U.S. official says Trump wants 'movement' from China to
avoid
tariffs
* China producer prices fall, consumer prices spike in
November
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Andrew Galbraith
SHANGHAI, Dec 10 (Reuters) - Asian equity markets eased
slightly on Tuesday, tracking Wall Street declines as investors
fretted over a Dec. 15 deadline for the next round of U.S.
tariffs on Chinese imports to take effect.
European equity futures pointed to similarly small moves.
Pan-region Euro Stoxx 50 futures STXEc1 were down 0.03% and
German DAX futures FDXc1 were 0.14% lower in early trade,
while FTSE futures FFIc1 added 0.1%.
Market uncertainty ahead of the tariff deadline was
reinforced by comments from U.S. Agriculture Secretary Sonny
Perdue on Monday that while President Donald Trump did not want
to implement tariffs, he did want to see "movement" from China.
The deadline looms over a series of other significant events
this week, with markets also awaiting the UK election on
Thursday, and U.S. and euro zone central bank meetings.
Investors have focused this year on the risks of the UK
crashing out of the European Union without a deal and a sharp
escalation in trade war tensions, said Frank Benzimra, head of
equity strategy at Societe Generale.
"What you have seen since the end of the third quarter and
the beginning of the fourth quarter was these two risks were
receding ... And now this week you see those two concerns coming
back on the market," he said, adding that he expected their
impact to be "short-term."
With investors reluctant to make big bets, MSCI's broadest
index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was
0.17% lower, with China's benchmark Shanghai Composite index
.SSEC off 0.08%.
Adding pressure in China was new data showing falling
producer prices in November while consumer prices spiked,
complicating efforts to boost demand as economic growth slows.
Australian shares .AXJO were off 0.34%, while Japan's
Nikkei .N225 was down 0.08%.
"The decision whether or not to raise tariffs on Dec. 15
rests with President Trump and he has continued his constructive
ambiguity on the issue which is keeping markets guessing," said
Tapas Strickland, a director of economics and markets at
National Australia Bank.
Tepid trade followed weakness on Wall Street overnight. The
Dow Jones Industrial Average .DJI fell 0.38% to 27,909.6, the
S&P 500 .SPX lost 0.32% to 3,135.96 and the Nasdaq Composite
.IXIC dropped 0.4% to 8,621.83. Investors were also keeping an eye on the U.S. Federal
Reserve, which is expected to keep rates unchanged at its
two-day policy meeting, which ends Wednesday.
With rates likely to stay put, analysts say investors will
be closely watching policymakers' forecasts for future U.S.
economic growth. On Tuesday, the U.S. two-year yield, watched as a sign of
market expectations of Fed fund rates, was at 1.6152%, down from
its close of 1.627% on Monday.
The 10-year Treasury yield US10YT=RR was at 1.8138% from a
U.S. close of 1.831% on Monday.
Following the Fed, investors are likely to scrutinise the
first policy meeting led by new European Central Bank President
Christine Lagarde on Thursday for clues on where she will take
the bank. While expectations of a Conservative Party victory in
Thursday's UK election have powered a rally in the pound,
options markets indicate worries of a post-election retreat.
"Polls have been wrong before, so a surprise can't be ruled
out - that's exactly what happened in the 2017 election,"
analysts at ANZ said in a morning note.
"But it's not just about Brexit. Fiscal expansion is also on
the cards, with ending austerity a major theme of the election
irrespective of who wins," they said.
Sterling, which hit its highest level against the dollar
since April on Monday at $1.3180, added 0.08% to buy $1.3153.
The dollar rose 0.05% against the yen to 108.60 JPY= and
the euro EUR= was up 0.03% at $1.1065.
The dollar index .DXY , which tracks the U.S. currency
against a basket of six major rivals, was down 0.02% at 97.629.
Worries over trade continued to push oil prices lower. Data
released on Sunday showed that Chinese exports declined for a
fourth straight month, underscoring the impact of the trade war
between the U.S. and China, which is in its 17th month.
Global benchmark Brent crude LCOc1 fell 0.12% to $64.17 a
barrel and U.S. West Texas Intermediate crude CLc1 dipped
0.15% to $58.93 a barrel.
Gold was a touch higher on the spot market XAU= , fetching
$1,462.34 per ounce. GOL/