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Higher opening for Asian market following the rally in the U.S. stock market

Asian stock opened in the green zone on Friday following the rally in U.S. stock market on hopes that the Senate would eventually pass the U.S Tax reform bill. Investors were encouraged by Senator John McCain' words indicating that he would vote in favor of the tax bill.

SPI futures of Australia traded at 6,008. The ASX 200’s was last traded at 5,9699.89. Japan’s Nikkei futures in Chicago exchange stood at 22,880. Meanwhile in Osaka, futures were traded at 22,900. The benchmark index closed at 22,724.

The Dollar gains momentum

In the currency market, the greenback climbed to a 10 day peak versus the yen since the U.S. tax reform legislation plan is making apparent progress. The dollar index went higher after the previous session's low of 92.729 trading at 93.004 at 5:57am HK/SIN.

Versus the yen, the dollar extended overnight gains and was last traded at 0.05 percent higher closing at 112.590 yen after hitting its highest trade of 112.690 since November 21 earlier in the session. The euro floated at $1.1898 experiencing minimal change following its gains of approximately 0.5 percent on the previous day while the pound ended a little higher closing at $1.3533. The Japanese yen was traded at 112.53 against the dollar.

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