asian markets head for positive end to volatile week
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Asian markets head for positive end to volatile week

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Asian markets head for positive end to volatile week

President Donald Trump hailed the vote to overhaul the US tax system
Hong Kong - Al Maghrib Today

Asian markets built on the previous day's gains and headed into the weekend on a positive note Friday as traders were buoyed by news that Donald Trump's tax cuts had moved a step closer.

House Republicans pushed through a landmark overhaul of the tax system on Thursday, providing the base for a record close in the Nasdaq on Wall Street at the end of a volatile week for global equities.

The plan, hailed by Trump and House Speaker Paul Ryan, would mark the biggest changes in three decades and see huge reductions for corporations and individuals.

 

Those gains filtered through to Asia, where Tokyo ended the morning session 0.2 percent higher, though an earlier rally was pared by a stronger yen.

Hong Kong added 0.8 percent and Sydney put on 0.3 percent. Seoul, Singapore, Taipei and Manila were also sharply higher but Shanghai dipped 0.3 percent.

The broad gains came at the end of a week that saw heavy selling fuelled by profit-taking and dealers' worries that a rally in recent weeks had gone too far, pushing valuations too high.

"If the Senate can get its bill passed and if President Trump does end up with something on his desk he can sign into law stocks in Asia, America, and globally should catch a strong updraft and bid tone," said Greg McKenna, chief market strategist at AxiTrader.

- Senate hurdle -

However, while the tax success in the House of Representatives came as a welcome boost, analysts warned there was still a long way to go for an agreement to get through the Senate.

The Republicans in the upper house have a wafer-thin majority and are already struggling to get all their members onside and there are worries the reforms could go the same way as the Obamacare repeal earlier in the year.

"Passing the legislation is a major win for President Trump but there is still work to be done if the bill is to make it through the US Senate," Cai Lewis, senior adviser at ASR Wealth Advisers, said in a note.

"I have said before that I think that the bill will ultimately pass, which will make way for debate on the much-lauded US Infrastructure bill. Now to see if Trump has learnt the lessons from the failed Obamacare repeal attempts and takes a more pragmatic approach when trying to woo votes in the Senate."

Uncertainty about the reforms' future dragged the dollar, which had rallied on the news in US trade.

The greenback was well down against the pound, euro and yen, while higher-yielding currencies including the Australian dollar, Korean won and Mexican peso were also stronger.

Regional energy firms were mostly up after this week's big losses fuelled by plunging oil prices but ongoing concerns about demand and warnings of higher stockpiles are keeping dealers on edge.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: UP 0.2 percent at 22,404.85 (break)

Hong Kong - Hang Seng: UP 0.8 percent at 29,251.57

Shanghai - Composite: DOWN 0.3 percent at 3,389.83

Euro/dollar: UP at $1.1812 from $1.1772 at 2200 GMT

Dollar/yen: DOWN at 112.55 yen from 113.02 yen

Pound/dollar: UP at $1.3240 from $1.3192

Oil - West Texas Intermediate: UP 19 cents at $55.33 per barrel

Oil - Brent North Sea: DOWN one cent at $61.35 per barrel

New York - DOW: UP 0.8 percent at 23,458.36 (close)

London - FTSE 100: UP 0.2 percent at 7,386.94 (close)

Source: AFP

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian markets head for positive end to volatile week asian markets head for positive end to volatile week

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian markets head for positive end to volatile week asian markets head for positive end to volatile week

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 16:26 2018 Friday ,31 August

First Paris attacks feature film shown at Venice

GMT 18:33 2018 Tuesday ,23 January

France says it fell short on greenhouse gas emissions

GMT 21:30 2017 Tuesday ,21 March

Sisi receives credentials of 7 new ambassadors

GMT 14:52 2018 Sunday ,21 January

Female Sherpa from Nepal scales new heights

GMT 13:04 2017 Monday ,04 December

Saudi coalition warns Yemenis to evacuate rebel areas

GMT 08:58 2012 Tuesday ,22 May

Scary moment for Ferrari P 4/5 in Nürburgring

GMT 11:59 2016 Tuesday ,27 September

Oman court jails journalists, closes down newspaper

GMT 09:22 2016 Thursday ,29 September

Slain Jordanian writer buried amid tight security

GMT 13:03 2016 Thursday ,08 December

Afghan determined to protect cultural

GMT 22:59 2012 Sunday ,07 October

NBB wins best retail bank in Bahrain award

GMT 13:18 2013 Monday ,24 June

Anaheed Fayyad tears up on her Gaza return

GMT 10:53 2013 Tuesday ,15 October

Designer Louboutin wins court ban on anti-Islam ad

GMT 21:53 2017 Monday ,18 September

Rolling Stone, iconic music magazine, looks for buyer

GMT 13:14 2017 Wednesday ,29 March

La Roche Posay adds to Effaclar collection

GMT 07:06 2015 Tuesday ,20 January

LifeWay/B&H crossbooks imprint releases powerful

GMT 01:51 2014 Saturday ,01 November

Mazaya 9-month profit jumps to 87.9m Qatari riyal

GMT 05:09 2012 Tuesday ,25 December

Telecom margins ‘hit by pricing race’
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday