European stock markets rebounded slightly Monday after heavy pre-weekend falls as US President Donald Trump reignited his trade war with China.

Asia's leading stock markets, catching up with sharp losses Friday on Wall Street, began the week in the red, while gold reached a fresh record high thanks to its status as a safe haven investment.

Trump wrote on social media that he would impose an additional 100-percent tariff on China and threatened to cancel a summit with Chinese counterpart Xi Jinping.

The US president cited Beijing's export curbs on rare earth minerals used in a range of goods including smartphones, electric vehicles and military hardware.

Trump presented a more conciliatory tone Sunday when he described Xi as "respected", helping to lift the dollar.

"European equities a

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