Asian Stocks Mostly Rise After US Budget Deal Passes

By Staff,

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Asian stocks gained after the US raised the debt ceiling and moved to reopen the government on Thursday.

The deal extends the government's borrowing authority until February 7 and funds government agencies until January 15.

The US dollar's gain against the yen on the budget news helped Japanese exporter shares.

Around the region, China's commerce ministry said exports may face challenges due to slowing demand from emerging markets.

Chinese banking shares also were under pressure, with China's central bank ready to take out 44.5 billion yuan ($7.3 billion) from the banking system this week though regular open-market operations, according to Dow Jones Newswires.

South Korea's PPI dropped 1.8% in September from a year earlier, after falling 1.3% in August, the Bank of Korea said.

Singapore's exports fell 1.2 % in September from a year earlier, according to a report by International Enterprise Singapore. Shipments were expected to drop 2.8%, according to the median estimate of economists in a Bloomberg survey.

The Nikkei ended up 0.83% at 14,586.51, the Hang Seng down 0.57% at 23,094.88 and the Straits Times up 0.4% at 3,186.62.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
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