Asian Stocks Up, Investors Digest Potential US Tax Hikes By Investing.com – Investing.com

  • Date: 23-Apr-2021
  • Source: Investing.com
  • Sector:Financial Markets
  • Country:UAE
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Asian Stocks Up, Investors Digest Potential US Tax Hikes By Investing.com – Investing.com

© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mostly up Friday morning, steadying after broad-based declines in their U.S. counterparts, as investors continue to digest a U.S. proposal for higher taxes to fund the country's latest social plan.

Japan's fell 0.74% by 10:37 PM ET (2:37 AM GMT), with the government preparing to declare a COVID-19 state of emergency in Tokyo, Osaka, Kyoto and Hyogo prefectures from Apr. 25 to May 11. Eateries serving alcohol, establishments with karaoke equipment and commercial facilities with floor space of 1,000 square meters and over will be asked to close as part of the latest measures.

South Korea's inched up 0.10% while in Australia, the edged down 0.15%.

Hong Kong's jumped 1.15%. China's was up 0.49% and the rose 0.69%

U.S. President Joe Biden will almost doubling the tax on capital gains to 39.6% for those earning more than $1 million a year.

Investors are also keeping an eye on the ongoing earnings season, and the latest batch of mixed results. While AT&T Inc. (NYSE:) beat earnings estimates and saw its shares jump on Thursday, Intel Corporation (NASDAQ:) reported falls in both data-center revenue and gross profit margins. Shares in