Feb 28, 2017 01:54 AM EST
Asian shares were up early Tuesday (Feb. 28, 2017), strengthened by gains on Wall Street as investors await a closely monitored speech by US President Donald Trump.
Investment research firm Morgan Stanley Capital International's broadest index of shares in Asia-Pacific outside Japan was up 0.1 percent early Tuesday while Japan's Nikkei stock index got a tailwind from a weaker yen and rose 0.7 percent.
Stocks in the US edged up Monday, according to a Reuters article, when the Dow Jones Industrial Average closing at a record high for a 12th straight session after Trump said he would talk about tax reform and infrastructure spending in his first major policy address to Congress on Tuesday.
Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank, wasn't that impressed stating this could be like the case of his inauguration speech in which expectations were high but the president didn't come up with any concrete details.
"The market does not want a repeat of that and wants to hear some actual plans or there will be disappointment," she said.
In a televised interview on Sunday, Treasury Secretary Steven Mnuchin had said Trump would use the event to preview some elements of his sweeping tax reform plans.
According to a White House budget official, Trump will seek to boost Pentagon spending by $54 billion in his first budget proposal and cut the same amount from non-defense spending, including a large reduction in foreign aid.
The dollar added 0.1 percent to 112.80 yen, pulling away from Monday's nadir of 111.920, which was its lowest since Feb. 9. The euro has slightly edged down on the day to $1.0583.
Crude oil prices were unchanged, as expectations of higher US crude production offset reports of high compliance with OPEC's production cut agreement.
US crude was up slightly on the day at $54.08 a barrel.
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While Theresa May told MPs that Brexit doubters should look forward with optimism, forecasters warn that divorce from the EU will be costly and that it could weigh heavily on UK's economic prospects in the next years.
US bank Wells Fargo has agreed to pay $110 million as settlement for the 11 class-action lawsuits brought by customers who had accounts opened without their permission.
Large supermarket group Tesco is set to pay £129 million in settlement for overstating the company's profits in 2014.
The idea of Elon Musk in creating Neuralink is to improve memory or give humans added artificial intelligence. This could be achieved by developing neural lace technology that would implant tiny electrodes into the brain.
Amazon executives did not disclose the value of the deal to which Goldman Sachs refer to as the "the biggest-ever technology M&A transaction in the Arab world."
The new 12-sided £1 coin comes into circulation on Tuesday with a hidden security feature that would stamp out fraud and counterfeiting.
Qatar claims that Brexit will have no impact on its investment efforts as the country is looking into the long-term view.
The deal ties American Airlines, one of the three big carriers in the US, with one of China's big three state-run airlines.
Bank of England prepares new stress test scenarios to be given to UK's biggest banks in preparation for any sudden slowdown in foreign interests in UK assets. The Brexit vote last year has triggered a sharp drop in the value of the pound.