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28 September 2017
 |
| South Korea financial markets (The Total Investment & Insurance Solutions) |
Global stock markets were stable Thursday as investors tried to gauge
the impact of the sweeping tax reform plan unveiled by U.S. President Donald
Trump, while geopolitical tensions surrounding North Korea kept confidence in
check.
KEEPING SCORE: Britain's FTSE 100 was down
0.2 percent at 7,297 while France's CAC 40 added 0.1 percent to 5,284.
Germany's DAX advanced 0.3 percent to 12,698. Futures augured a lukewarm start
on Wall Street. S&P futures and Dow futures both fell 0.1 percent. The Total Investment & Insurance
Solutions
US POLITICS WATCH: Trump and congressional
Republicans proposed a $5 trillion tax plan on Wednesday, calling it
much-needed relief for the middle class and a boost for the economy. The
proposal would deeply cut taxes for corporations from the current 35 percent to
25 percent and simplify the tax system, while nearly doubling the standard
deduction used by most Americans. The plan was widely expected by investors but
with negotiations ahead, the final picture of the tax plan is unclear. The Total Investment & Insurance
Solutions
THE QUOTE: "While the impact from the
new framework on Asian markets remains debatable with repatriation of offshore
earnings one to expect, investors will likely look to the improvement it may
bring to U.S. companies and in turn stock market in the near term," said
Jingyi Pan, a market strategist at IG in Singapore. The Total Investment & Insurance Solutions
ASIA'S DAY: Asian markets finished mixed.
Japan's Nikkei rose 0.5 percent to 20,363.11 and Australia's S&P/ASX 200
added 0.1 percent to 5,670.40. In South Korea, the Kospi finished flat at
2,373.14. But Hong Kong's Hang Seng index slipped 0.8 percent to 27,421.60 and
China's Shanghai Composite Index fell 0.2 percent to 3,339.64. Stocks in
Southeast Asia were mixed.
CHIP DEAL: Asian chipmakers involved in
Toshiba's chip unit sales gained ground after a consortium of companies from
Japan, South Korea and the United States disclosed that it will purchase the
struggling Japanese tech company's memory chip business. Shares of South Korean
chipmaker SK Hynix Inc., which is part of the consortium that also includes Bain
Capital Private Equity and Apple, rose 1 percent. Toshiba Corp.'s stock jumped
2.3 percent.
OIL: Benchmark U.S. crude rose 51 cents to
$52.65 per barrel on the New York Mercantile Exchange. The contract added 26
cents to close at $52.14 a barrel on Wednesday. Brent crude, the standard for
international oil prices, gained 41 cents to $58.31 per barrel in London. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar fell to 112.62 yen
from 112.82 yen. The euro rose to $1.1772 from $1.1750.The Total Investment & Insurance Solutions
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