Asian financial markets were uneven on Friday as a result of the news that President Joe Biden would consider hiking taxes on the richest owners.

Shanghai, Hong Kong, and Seoul grew, while Tokyo and Sydney fell.

The Shanghai Composite Index increased less than 0.1 percent to 3,466.68, while the Nikkei 225 in Tokyo fell 0.8 percent to 28,960.35. Hong Kong's Hang Seng index climbed 0.9 percent to 29,014.32.

The Kospi in Seoul rose upto 0.2 percent to 3,183.58, while the S&P-ASX 200 in Sydney fell upto 0.1 percent to 7,045.60.

India's Sensex finally opened less than 0.1 percent at 48,096.32. New Zealand and Jakarta grew, while Singapore and Bangkok dropped.

Investors are trying "to work through a somewhat jumbled economic forecast" and financial results that have "priced in a sluggish return to pre-pandemic life," according to Edward Moya of Oanda.

Stocks in Europe

European stocks have leveled off as investors assess the impact of the US capital gains tax increase.

The pan-European STOXX 600 fell 0.4 percent and was on track for a weekly decline of 1%, with a rise in global coronavirus cases also weighing.

According to reports, Biden's administration wants to raise the capital gains tax on rich people to about 40%, almost double the current limit.

"I don't believe people are entirely cynical about the fact that certain (US) tax reforms are being highlighted," said James McGlew, Argonaut's executive director of corporate stockbroking.

"In the end, money will flow back into the local economy."