GLOBAL MARKETS-Asian shares edge lower as investors await tariff deadline

* MSCI Asia ex-Japan -0.04%; Nikkei down 0.23%
* China says it wants to make a trade deal as soon as
possible
* Asian stock markets: https://tmsnrt.rs/2zpUAr4

By Andrew Galbraith
SHANGHAI, Dec 10 (Reuters) - Asian equity markets were a tad
lower on Tuesday as investors refrained from making major bets
before Dec. 15, when the next round of U.S. tariffs on Chinese
imports is due to take effect.
A Chinese Commerce Ministry official said on Monday that
Beijing hopes to make a trade deal with Washington as soon as
possible before new U.S. tariffs are due to kick in this
weekend. MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down just 0.04% as the Asian trading day
began on Tuesday.
Australian shares .AXJO were also 0.04% lower, while
Japan's Nikkei .N225 lost 0.23%.
"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 1.6191%, down from
its close of 1.627% on Monday.
The 10-year Treasury yield US10YT=RR was at 1.8208% 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, inched up 0.02% to buy $1.3145.
The dollar rose 0.04% against the yen to 108.59 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 at 97.644.
Worries over trade pushed 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. U.S. West Texas Intermediate crude CLc1 dipped 0.25% to
$58.87 a barrel.
Gold was down less than 0.1% on the spot market XAU= ,
fetching $1,460.64 per ounce. GOL/