President Donald Trump's speech to Congress offered few details or surprises on tax and spending policies.
In a speech that ended before the Japanese equities market reopened for trade in the afternoon, Trump pledged to overhaul the immigration system, improve jobs and wages for Americans and promised "massive" tax relief to the middle class and tax cuts for companies.
"The speech didn't contain anything drastic or extraordinary, so the first impression to investors was that it lacked something new," said Eiji Kinouchi, chief technical analyst at Daiwa Securities.
"But it was not particularly disappointing either, so investors are having a hard time finding direction so they are just recovering some of their positions that they sold before the speech." Reuters is the news and media division of Thomson Reuters.
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