The Financial Express

Asian share markets mixed after US tax reform

Published: December 21, 2017 14:05:58 | Updated: December 22, 2017 15:30:30

File Photo (Reuters) File Photo (Reuters)

Asian share markets were mixed Thursday after the final congressional approval of a sweeping US tax revamp.

Chinese markets advanced after leaders promised to increase imports and reduce risks in the country’s financial system amid slowing economic growth and pressure from trading partners to open its markets wider.

Japan’s benchmark Nikkei 225 lost 0.1 per cent to 22,866.10 and South Korea’s Kospi sank 1.6 per cent to 2,433.69, reports AP.

The Hang Seng in Hong Kong gained 0.5 per cent to 29,395.70 while the Shanghai Composite jumped 0.6 per cent to 3,307.75. Australia’s S&P/ASX 200 lost 0.3 per cent to 6,060.40.

Major US benchmarks ended little changed. The S&P 500 index lost 0.1 per cent to 2,679.25. The Dow Jones industrial average fell 0.1 per cent to 24,726.65.

The Nasdaq composite slid less than 0.1 per cent to 6,960.96.

The dollar was slipped to 113.39 Japanese yen to 113.40 yen. The euro fell to $1.1868 from $1.1870.

Oil futures fell. Benchmark US crude lost 3 cents to $58.06 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 53 cents to $58.09 a barrel on Wednesday.

Brent crude, used to price international oils, slipped 9 cents to $64.47 a barrel in London.

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