Asian equity markets made a mixed closing on Wednesday as the final vote on the US tax bill entered a crucial phase. Senate Republicans voted late Tuesday night to approve their final tax overhaul, which would cut taxes for businesses and individuals while widening American budget deficit and income inequality. However, a technical vote in the House is still needed before it can be sent to President Donald Trump's desk. China stocks ended lower in thin trade and as liquidity in the banking system tightened. Meanwhile, Hong Kong stocks ended slightly in red as weakness in financial and IT stocks offset strength in property and utility plays. Though, Japanese shares ended a choppy session marginally higher as a weaker yen on US tax cut hopes and gains in the financial sector helped outweigh renewed sell-off in construction shares in the wake of bid-rigging allegations.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,287.61 | -8.93 | -0.27 |
Hang Seng | 29,234.09 | -19.57 | -0.07 |
Jakarta Composite | 6,109.48 | -58.18 | -0.94 |
KLSE Composite | 1,746.63 | 9.68 | 0.56 |
Nikkei 225 | 22,891.72 | 23.72 | 0.1 |
Straits Times | 3,394.87 | -9.60 | -0.28 |
KOSPI Composite | 2,472.37 | -6.16 | -0.25 |
Taiwan Weighted | 10,504.52 | 37.18 | 0.36 |