Asian markets rallied on Monday, tracking fresh records on Wall Street, while the dollar held gains as Donald Trump's much-hyped tax cuts moved a step closer to being passed.
The controversial reforms look destined to become the US president's first major congressional victory as two key Republican holdouts in the Senate decided to back the bill after their demands were met Friday.
The news sent US stocks soaring on hopes the cuts will help fire the already healthy economy and boost company profits.
"The odds of the tax cut legislation getting passed within this year have grown," Shoji Hirakawa, chief global strategist at Tokai Tokyo Research Institute, told Bloomberg News.
This "will benefit not only the US, but also economies around the globe ... allowing investors to anticipate an increase in corporate earnings."
GMT 11:08 2017 Thursday ,21 December
Asian markets mostly down as tax cut euphoria wanesGMT 10:16 2017 Friday ,15 December
Asian markets down after Wall Street slips on tax reform fearsGMT 06:06 2017 Monday ,11 December
Asian traders extend global rally after US jobs data, eyes on FedGMT 06:58 2017 Monday ,04 December
Dollar rises on US tax-cut progress but Flynn deal spooks tradersGMT 10:26 2017 Friday ,01 December
Asian investors tread carefully with US tax reformMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
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