stocks: Negotiations are set to resume Friday morning Asian markets were whipsawed in heavy trading as trade news emerged, with stocks swinging from gains to losses, according to Xinhua China. As the Shanghai Composite slumped 3% from the morning-session high, state funds intervened to prop up stocks, people familiar with the matter said. China said it will take necessary countermeasures,'' though has yet to specify them Day one of talks between top Chinese and U.S. economic officials in Washington ended with little progress and a downbeat mood, according to people familiar with the talks. The index closed up 3.1% and the yuan rose Investors are also on the lookout for any sign of a call between Presidents Donald Trump and Xi Jinping, after Trump said he'd received a letter from Xi and flagged the potential for a phone conversation between them Next steps to watch include the details on China's retaliation, news on any broader stimulus efforts to safeguard growth and on any move by Trump to impose new 25% tariffs on 325 billion more of imports, a threat that he reiterated Thursday Chris Anstey Managing Editor, Asia Cross-Asset Markets05/10 03 55 ETThank you for following our coverage of the ongoing China-U.S. trade spat. We'll leave you with a Quick Take explainer of just how we got here How the U.S.-China Trade War Got to This Point Quick Take Bloomberg Terminal users can continue to track developments by searching for NEWS ON CHINA AND TRADE BY BLOOMBERG . Web users should keep checking for all the latest. We're going to end this TOPLive coverage here.
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