Asian shares rose on Friday after the European Central Bank left policy unchanged, extending a rebound following a sharp selloff earlier in the week, but gains were capped as investors considered the impact of a possible U.S. capital gains tax hike. The ECB’s decision to keep copious stimulus flowing came despite its prediction of a strong rebound in the euro zone economy from mid-year as COVID-19 infections are brought under control. But in a hit to stock market sentiment overnight, the administration of U.S. President Joe Biden was reported to be seeking an increase in the capital gains tax to near 40% for wealthy individuals, almost double the current rate.
