When we look at the big picture of world economy after declaring the tax reform by Trump, American stock market and developing country currencies lost momentum. The New York Stock Exchange completed the day with slight losses after US President Donald Trump declared the tax reform. The main reason of the decreasing trend is not to given details about the tax reform by Trump, so it caused some uncertainties in the global markets. Noting that these statements do not give much detail on the tax reform proposal, experts say investors find the design weak and take the sales position in stock exchange.
On the other hand, developing country currencies followed a decreasing trend after declaring the tax reform. Especially, Asian markets started to test their support levels after the announcement. South Korea Won retreated for the first time in 7 days, while Kospi index fell by 0.3%. The Philippine Peso decreased by following the Asian markets. Indicator index decreased by 0.7%. The Indonesian Rupee fell for the first time in 4 days, while the Jakarta Stock Exchange retreated by 0.4%. Finally, we can say the investors may continue the sales position for a while in the global markets.
- Date: 27 April 2017 Thu 07:19
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