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The Financial Express

Asian shares rise after Senate passes tax bill

| Updated: December 06, 2017 12:04:32


Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Collected) File Photo (Collected)

Asian stock markets were mostly higher on Monday, after the US Senate approved a tax overhaul bill early Saturday.

Japan’s Nikkei 225 dipped 0.2 per cent to 22,774.38 while South Korea’s Kospi added 0.3 per cent to 2,484.30. Hong Kong’s Hang Seng index rose 0.5 per cent to 29,230.85.

The Shanghai Composite Index was flat at 3,318.40. Australia’s S&P ASX 200 rose less than 0.1 per cent to 5,993.60. Stocks in Southeast Asia were mixed.

Singapore stocks fell but the benchmark in Indonesia surged 1.0 per cent, according to AP.

US stocks finished lower on Friday. The S&P 500 index fell 0.2 per cent to 2,642.22. The Dow Jones industrial average slid 0.2 per cent to 24,231.59 and the Nasdaq composite lost 0.4 per cent to 6,847.59.

Benchmark US crude fell 41 cents to $57.95 per barrel on the New York Mercantile Exchange. The contract rose 96 cents, or 1.7 per cent, to settle at $58.36 a barrel on Friday.

Brent, the international standard, lost 39 cents to $63.34 per barrel in London. It added $1.10, or 1.8 per cent, to close at $63.73 a barrel on Friday.

The US dollar rose to 112.75 yen from 112.13 yen while the euro weakened to $1.1872 from $1.1896.

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