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Shares of Asia shrank after Wall St fell on Biden’s tax report

BEIJING (AP) – Asian stock markets have been in turmoil since Wall Street collapsed on Friday, with President Biden proposing to raise taxes on the richest investors.

Shanghai, Hong Kong և Seoul rose, while Tokyo և Sydney retreated.

The Wall Street S&P 500 Index lost 0.9% overnight after Bloomberg News quoted unnamed sources as saying Biden would raise taxes for people worth more than $ 1 million. on stock trading.

This added to the corporate profits խառն US rent mix so as not to raise the possibility that inflation and interest rates could rise և to recover from coronavirus infections, which has prompted some governments to tighten anti-inflammatory controls.

“Investors are struggling with ‘rolling in a very chaotic global outlook’ on earnings reports that have ‘made a slow return to pre-epidemic life,'” said Eduard Moyan of Oanda in a report.

The Shanghai Composite Index rose less than 0.1% to 3466.68, and the Tokyo Nikkei 225 lost 0.8% to 28,960.35. Hang Seng gained 0.9% in Hong Kong to 29.014.32.

Seoul Cospin rose 0.2% to 3,183.58 and the Sydney S & P-ASX 200 rose 0.1% to 7,045.60.

India’s Sensex opened less than 0.1% at 48,096.32. The New Zealanders ascended to Akarta while Singapore and Bangkok retreated.

Sales on Wall Street were widespread after the Biden tax report.

According to Bloomberg, this will increase the capital gains tax for 39.6% of investors earning more than $ 1 million, or more than double the US interest rate on that income. It says a separate down payment on investment income could boost the overall tax rate for wealthy investors to 43.3%.

Technology stocks, banks and companies that rely on consumer spending accounted for a large share. Treasury yields were generally stable.

The S&P 500 declined to 4,134.98. It fell 1.2% for the week after reaching a high on Friday.

The Dow Jones industrial average was down 0.9% at 33815.90. Nasdaq composite slipped 0.9% to 13818.41.

The latest round of US government stimulus has led to the elimination of retail investors in the world’s largest market. Investors are now considering other offers outside of Washington, including tax changes և Biden’s $ 2.3 million infrastructure spending package.

Investors are also looking for signs of possible economic recovery, as most S&P 500 companies report quarterly results. On Thursday, the Department of Labor reported that the number of Americans applying for unemployment benefits had dropped again last week to its lowest level since the epidemic began.

China, the world’s second-largest economy, the world’s largest importer, recovered late last year, and the United States is showing strong signs of recovery. Europe այլ Other parts of the world are lagging behind.

US crude rose 50 cents to $ 61.93 a barrel on the New York Mercantile Exchange. The contract was up 8 cents at $ 61.43 on Thursday. In London, Brent oil, used to quote international oils, gained 42 cents per barrel, reaching $ 65.82. The previous session increased by 8 cents to $ 65.40 per barrel.

The dollar fell from 108.10 yen on Thursday to 107.89 yen. The euro rose from $ 1,2008 to $ 1.2029.


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