Asian shares mixed after Trump unveils tax cut

| Updated: October 24, 2017 05:32:45

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Asian markets were mixed on Thursday as investors tried to gauge the impact from the sweeping tax reform plan unveiled by President Donald Trump.

Japan’s Nikkei rose 0.3 per cent to 20,325.52 and Australia’s S&P/ASX 200 added 0.1 per cent to 5,669.40. But in South Korean, Kospi fell 0.2 per cent to 2,367.76.

Hong Kong’s Hang Seng index slipped 0.3 per cent to 27,557.37 and China’s Shanghai Composite Index fell 0.2 per cent to 3,337.78. Stocks in Southeast Asia were mixed, reports AP.

US stock markets finished higher on Wednesday. The S&P 500 index added 10.20 points, or 0.4 per cent, to 2,507.04. The Dow Jones industrial average rose 56.39 points, or 0.3 per cent, to 22,340.71.

The Nasdaq composite leaped 73.10 points, or 1.1 per cent, to 6,453.26. The Russell 2000 did even better and continued to set records. It gained 27.95 points, or 1.9 per cent, to 1,484.81.

Benchmark US crude fell 18 cents to $51.96 per barrel on New York Mercantile Exchange. The contract added 26 cents to close at $52.14 a barrel on Wednesday.

Brent crude, the standard for international oil prices, lost 23 cents to $57.34 per barrel in London.

The dollar rose to 112.90 yen from 112.82 yen. The euro fell to $1.1735 from $1.1750.

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