GLOBAL MARKETS: Asian shares, yuan off to calm start; focus on China

U.S. data on Friday showed consumer spending barely rose in August and business investment remained weak, suggesting the American economy was losing momentum as the trade dispute drags on.

Industrial output in Japan and South Korea, released Monday morning, dropped more than expected, underscoring the headwinds from the trade war.

Investors are also keeping a wary eye on U.S. politics.

U.S. House Speaker Nancy Pelosi said that public opinion is now on the side of an impeachment inquiry against Trump following the release of new information about his conversations with Ukrainian President Volodymyr Zelenskiy.

Major currencies were little changed in early trade.

The yen traded flat at 107.94 yen.

The euro hovered at $1.0945, having sunk to a 28-month low of $1.0904 on Friday as concerns about tepid growth in Europe weighed on the common currency.

Sterling traded at $1.2294, not far from Friday's low of $1.2270, its lowest since Sept. 9.

Boris Johnson said on Sunday he would not quit as Britain's prime minister even if he fails to secure a deal to leave the European Union, insisting only his Conservative government can deliver Brexit on Oct. 31.

Oil prices slightly bounced off a tad after last week's slide.

Saudi Arabia's crown prince warned in an interview with CBS program "60 Minutes." aired on Sunday that crude prices could spike to "unimaginably high numbers" if the world does not come together to deter Iran.

But crown prince Mohammed bin Salman said he would prefer a political solution to a military one, adding the Sept. 14 attacks on the kingdom's oil facilities were an act of war by Iran.

Brent crude futures rose 0.34% to $62.12 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.32% to $56.09 per barrel. (Editing by Shri Navaratnam)