Tokyo — Asian shares shrugged off early sluggishness and gained on Friday, and the dollar rose after the US Senate approved a budget blueprint for the 2018 fiscal year that will pave the way for Republicans to pursue a tax-cut package without Democratic support. By a 51-to-49 vote, the Republican-controlled Senate voted for the budget measure late on Thursday, which would add up to $1.5-trillion to the federal deficit over the next decade in order to pay for proposed tax cuts. MSCI’s broadest index of Asia-Pacific shares outside Japan, which scaled a 10-year peak on Tuesday, was up 0.3%, but still down slightly for the week. US stock futures were up 0.4%, and the benchmark 10-year treasury yield rose to 2.346% from its US close of 2.321% on Thursday. Shares in New Zealand were flat after 13 gaining sessions, after the nationalist New Zealand First Party agreed to form a new government with the centre-left Labour Party following weeks of political negotiations, ending the centre-righ...
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