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Asian Market Update – Friday: Modest gains in Asia as US tax reform faces uncertainty

The Big Question: How is Trump planning to pay for his tax reform? Asian stock markets saw very modest gains in early morning trading on Friday. News from the US is once again driving the markets, and investors are now wondering what the impact of Trump’s proposed tax reform will be, and whether it will pass Congress. One analyst was quoted by Reuters as saying that “the size of the tax cut is simply too large to be realistic and repealing deductions will prove politically difficult.” If the tax reform passes through Congress, it is likely to make US stocks […]
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