Investing.com - Asian shares mostly gained on Monday with Tokyo down slightly as progress on passing tax cuts in the US lifted sentiment.
Japan's Nikkei 225 eased 0.03%, while Australia's S&P/ASX 200 edged up 0.06%. ANZ shares fell 0.98%, Commonwealth Bank declined 0.83%, Westpac fell by 1.55% and the National Australia Bank was lower by 0.78%.
In Greater China, the Shanghai Composite rose 0.12% and the Hang Seng index gained 0.68%.
Dow Jones industrial average e-mini futures rose 226 points to 24,464,while the Nasdaq and S&P 500 e-mini futures were also higher.
Senate Republicans narrowly passed a bill to overhaul the U.S. tax system in the wee hours of Saturday. The GOP still needs to overcome significant differences for the House and Senate to craft a joint bill in a process called resolution and send it to Trump's desk. Republicans hope to reach a deal by Christmas.
Goldman Sachs (NYSE:GS) said the Senate version led it to revise growth forecasts.
"We have increased our estimate of the growth effects of the legislation slightly, to around 0.3pp in 2018 and 2019," Goldman said in a note to clients.
"This reflects the slightly larger amount of tax cuts in the Senate plan following revisions, and our expectations regarding the eventual compromise."
Elsewhere, ABC News reported on Friday that Michael Flynn, the former White House national security advisor, would testify that he was directed to make contact with Russians during the presidential campaign in 2016. Flynn pleaded guilty to lying to the FBI about his post-election contacts with Russia's ambassador to the U.S.
The ABC report was later corrected the story to say its source had clarified that Trump gave Flynn the directive "shortly after the election" to discuss strategies for fighting the Islamic State extremist group.