Asia stocks wobble after G7; Trump-Kim summit, central bank meetings eyed

Glen Norman
June 11, 2018

As per the report, the United States president has said that if he thinks things are going badly, he will walk out of the meeting, but if things go well, the North Korean leader could receive an invitation to the White House.

US President Donald Trump arrived in Singapore on Sunday to join North Korean leader Kim Jong-un for a historic summit which could lay the groundwork for ending a nuclear stand-off between the two countries and see Pyongyang dismantle its arsenal in return for economic help and security guarantees.

At 10am, North Korean vice-minister for foreign affairs, Choi Sun-hee, strode into the Ritz Carlton with her small team.

The running bodyguards of North Korean leader Kim Jong-un, which made an appearance for the first time during the inter-Korean summit in April this year are now back in action, this time in Singapore.

But even the merit of the event itself - long sought by the North, and which Trump apparently impulsively agreed to in March, reportedly without consulting his advisers - has been called into question.

White House press secretary Sarah Huckabee Sanders said Trump spent his flight from Canada to Singapore "meeting with his staff, reading materials and preparing for his meetings in Singapore".

"The entire world is focusing on the historic summit between the DPRK (North Korea) and the U.S., and thanks to your honest efforts". While hostilities ended with an armistice in 1953, no peace treaty has been signed yet.

Singaporean Prime Minister Lee Hsien Loong posted on his official Twitter account a picture of him shaking hands with Kim upon his arrival.

He has said the talks would be more about starting a relationship with Kim for a negotiating process that would take more than one summit.

Sen. Lindsey O. Graham (R-S.C.), a leading Republican hawk, said in an interview on ABC's "This Week" that he's "100 percent" pleased with a letter top Senate Democrats sent President Trump last week insisting that any deal with North Korea must include a permanent dismantling of the country's nuclear and ballistic-missile programs.

Trump arrived in Singapore after another meeting with foreign leaders - a group of close American allies.

Kim was scheduled to meet with Singaporean Prime Minister Lee Hsien Loong Sunday evening, a meeting which will be streamed on the prime minister's Facebook page.

The North Korean leader's limousine and accompanying motorcade wound its way through Singapore before arriving at the St. Regis Hotel, where he will be staying during the summit. "This is a very major operation because it's a high-profile meeting and we can not afford to have anything go wrong", he added.

Such a meeting was unthinkable just months ago when Trump and Kim were exchanging insults and threats that raised fears of war in the region.

The summit has fueled hopes in South Korea that the two leaders may weigh a formal declaration to end the Korean War.

After North Korea carried out a series of long-range missile tests that potentially put the USA mainland in range of a nuclear strike, Trump promised to respond with "fire and fury".

Occasional provocations by the North have continued while Pyongyang has made increasing advances in its nuclear arsenal, which it says it needs to defend against the risk of a U.S. invasion.

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