Asian shares go up as traders eye Trump tax details

Asian shares go up as traders eye Trump tax details

On Wednesday, Asian stocks managed to gain because expectations that Donald Trump would disclose  an ambitious tax cutting initiative backed market sentiment, although traders told there was caution as Trump hasn’t yet tasted legislative success on his program.

Today’s moves are more related to hopes for Trump's impending 'broad principals' tax plan. It’s supposed that the corporate tax rate is going to be reduced to 15% from 35%. The key for financial markets will be how such a tax cut could be funded. Moreover, traders are eager to learn the probability of the tax cut being passed by Congress.

Japan's benchmark Nikkei 225 index went up 0.62%.

The S&P/ASX 200 gained 0.72%. BHP Billiton diminished its output objectives for coking coal, iron ore and copper. The company attributed the cuts to bad weather conditions in Australia as well as strikes at the Escondida mine in Chile. By the way, BHP Billiton stocks grew 1%.

Similar

Asia-Pacific stocks are mixed

On Friday, Asia-Pacific stock indices were quite mixed amid cautious trading after US President Donald Trump dared to cancel the highly anticipated summit with North Korean leader Kim Jong-no and also accused North Korea of ​​showing great anger as well…

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera