Markets in Asia struggled to finish on a positive note on Wednesday’s session. At the same time on the stateside, the agreed bill that will replace the health-care Obamacare was postponed.
In the United Sates, the vote regarding the new health-care bill that would repeal Obamacare will be delayed until the end of July 4, according to Senate Majority Leader Mitch McConnell last Tuesday. The said new health-care bill would withdraw the taxes of the previous health-care, cancel the development program of Medicaid and restructure subsides to insurance users.
Congressional Budget Office says this movement could result to as much as 23 million uninsured Americans. The hasted vote could possibly caution the market that President Trump attempting to enact his agenda was having a hard time. This suggested that it would require the market some hard work to stay out of the negative territory.
In Asian indexes, Japanese benchmark Nikkei 225 index edged down by 0.17 percent, Kospi index in South Korea was also lower more than 0.32 percent on the day. The ASX 200 index in the Down Under slightly plunged by 0.1 percent, with Australia’s health-care sub-index as the worst performers. Markets in Indonesia are shut until this week concludes.
Japanese conglomerate Toshiba would hold its annual meeting on the same day as the company has yet to sign an agreement with its favoured buyer, which is led by the country’s Innovation Network Corporation; this is to sell its memory chip unit. According to Reuters, Toshiba pledged to sign the deal by the meeting. The shares of the company were 0.75 percent lower.