Global stocks recover but anxiety over trade talks lingers

TOKYO: Global stocks recouped early losses as news reports raised hopes that the United States and China would settle some economic disputes, but investors were kept on edge by an earlier report that trade talks due to begin on Thursday could be cut short.

Earlier U.S. stock futures slumped as much as 1.3per cent, as the South China Morning Post reported the Chinese delegation, headed by Vice Premier Liu He, was planning to leave Washington after just a day of minister-level meetings, instead of as originally planned on Friday. "Barring any surprise today, it looks like their talk is breaking down. The tariff will be hiked. The situation looks dire," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

U.S. Democratic presidential contender Joe Biden called for the impeachment of Trump for the first time in a deepening partisan fight over a congressional investigation of the Republican president. The yen last stood almost flat at 107.56 while the Swiss franc traded at 0.9946 franc per dollar , about 0.1per cent higher than late U.S. levels. The euro firmed slightly to US$1.0986 .

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