Asian shares are stronger as movement in US tax plan brightens mood
Tokyo — Asian shares rose firmly on Friday as strong US earnings and a step forward in Congress on US tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts. But the dollar fell after the Wall Street Journal reported special counsel Robert Mueller’s team last month subpoenaed President Donald Trump’s campaign for documents containing specified Russian keywords from more than a dozen officials. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.8% while Japan’s Nikkei gained 0.4%, extending its recovery from a near three-week intraday low hit on Thursday. Wall Street’s main indices rose sharply on Thursday, boosted by strong gains in Wal-Mart and Cisco following their earnings. The S&P 500 advanced 0.82% to turn positive for the week, a day after hitting a three-week low, while the Nasdaq Composite added 1.3% to a closing record high of 6,793.29 points. MSCI’s broadest gauge of the world’s stock markets ste...
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