· European markets opened lower on Thursday after the U.S. Congress approved an overhaul of the U.S. tax code that will cut corporate tax rates.
The pan-European STOXX 600 was down around 0.2 percent at the open with major bourses all in the red.
· Asian markets offered a muted reception on Thursday to the passage of U.S. tax cuts as benefits to company bottom lines were already baked into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.06 percent in thin trade, while the Nikkei .N225 eased 0.1 percent.
· Japan’s Nikkei share average ended down on Thursday, dragged lower by weakness in banking shares though off earlier session lows.
The Nikkei finished down 0.11 percent, or 25.62 points, at 22,866.10. The broader Topix erased losses and eked out a 0.08 percent gain to 1,822.61.
The Bank of Japan’s policy meeting announcement, with monetary settings kept unchanged, came during the midday trading break. The widely expected decision had no discernible impact on the market.
Banking stocks fell 1.1 percent, with Mizuho Financial down 1.2 percent and Sumitomo Mitsui Financial Group off 1.25 percent.
· China stocks rose on Thursday, as investors were inspired by Beijing’s commitment to maintain steady economic growth next year while deepening structural reforms and curbing financial risks.
** At the close, the Shanghai Composite index was up 13.08 points or 0.4 percent at 3,300.68. The blue-chip CSI300 index was up 0.93 percent.
· Hong Kong shares rose on Thursday, supported by gains in mainland markets as Beijing pledged to deepen structural reforms and curb risks to its financial system while maintaining steady economic growth in 2018.
At close of trade, the Hang Seng index was up 132.97 points or 0.45 percent at 29,367.06.
Reference: Reuters, CNBC
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