Asian shares rise on relief over US debt ceiling deal

Published: September 07, 2017 10:39:39 | Updated: October 22, 2017 01:34:31


Asian stocks rose Thursday after President Donald Trump cut a deal with Democrats to extend borrowing limits to buy more time for the US government, giving investors much needed relief.

 

Japan's benchmark Nikkei 225 rose 0.4 per cent to 19,431.58 and South Korea's Kospi jumped 1.1 per cent to 2,345.58. Hong Kong's Hang Seng index added 0.4 per cent to 27,736.13, reports AP.

 

The Shanghai Composite dipped 0.2 per cent to 3,379.93. Australia's S&P/ASX 200 advanced 0.3 per cent to 5,706.70.

 

Major US benchmarks ended higher. The S&P 500 index rose 0.3 per cent to 2,465.54. The Dow Jones industrial average added 0.3 per cent to 21,807.64.

 

The Nasdaq composite gained 0.3 per cent to 6,393.31.

 

The rally in oil futures fizzled out. Benchmark US crude dipped 6 cents to $49.10 a barrel in electronic trading on the New York Mercantile Exchange.

 

The contract gained 50 cents, or 1.0 per cent, to settle at $49.16 a barrel Wednesday. Brent crude, used to price international oils, slipped 10 cents to $54.10 a barrel in London.

 

The dollar rose weakened to 109.08 yen from 109.23 yen Wednesday. The euro rose to $1.1925 from $1.1918.

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