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

Asian equities bounce back

On Tuesday, Asian equities managed to find their footing following some initial softness because Hong Kong’s benchmark is braced for setting a record closing maximum…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

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

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