Asian shares struggled to find clear direction on Friday after a week spent seesawing to match the prevailing momentum on Wall Street. Washington is said to be developing a plan to slap new levies on wealthy investors, including a near doubling of the tax on stock transaction profits. President Joe Biden also called for an increase in corporate taxes to finance his $2 trillion infrastructure package. Asian shares struggled to find clear direction on Friday after a week spent seesawing to match the prevailing momentum on Wall Street, where trade faltered overnight after tax hike reports. Any tax plan faces a long process on Capitol Hill before becoming a reality, but analysts said the reports indicate hikes are very much in the mix in Washington.

Source: News 24 April 23, 2021 12:11 UTC