Tokyo: Asian shares were close to 18-month highs on Friday, tracking a rally on Wall Street after US President Donald Trump promised to unveil a major tax announcement to lower the burden on businesses. Japan's Nikkei stock index surged 1.8% as it got a tailwind from a weaker yen, poised to added 1.8% for the week. Wall Street's three main indexes notched record highs on Thursday after President Donald Trump said he would make a major tax announcement in a few weeks, though he offered no details. "The market loves the idea of tax reform," Chris Weston, chief market strategist at IG in Melbourne, said in a note. The dollar index, which tracks the greenback against a basket of six major currencies, edged up to 100.67 on track to gain 0.8% for the week.

Source: The Star February 10, 2017 02:37 UTC