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Singapore, Malaysia stocks fall after Trump's tax plan

SINGAPORE (Nikkei Markets) -- Singapore and Malaysia shares edged lower as U.S. President Donald Trump's much-awaited plan for tax reforms lacked details, disappointing investors.

U.S. stocks edged lower overnight after Trump proposed to cut corporate tax rates to 15% from the current 35%, but did not offer specifics as to how he plans to fund the reductions. Traders also said the market had already priced in the news, and that led to the muted reaction.

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