Asian stocks are in the green on American tax cut hopes

Asian stocks are in the green on American tax cut hopes

On Friday, Asian stocks mostly gained on prospects for tax cuts in America, with the financial markets cautious, reacting to a suspected terrorist shooting in Paris several days ahead of presidential polls in France.

Japan's Nikkei 225 index inched up 0.73%. The Kospi ascended 0.81%, Australia's S&P/ASX 200 made revenues of 0.58%. Hong Kong's Hang Seng Index grew 0.18%, while the Shanghai Composite revived moderately, adding 0.07%.

Samsung Electronics leapt 2.38%, following the long-awaited release of its new Galaxy S8 smartphone in Seoul, on Friday. The company told that the previous week that pre-orders for the Galaxy S8 had exceeded those for the S7.

Overnight, American shares closed higher on Thursday because risk-on sentiment got back after a sturdy batch of corporate earnings as well as bullish comments on tax reform from US Treasury Secretary Steven Mnuchin.

The three key American indexes were still on track to conclude the week in positive territory. It’s because corporate earnings overshadowed geopolitical events, while economic data turned to be weaker than expected.


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