Asian Stock Market: Shanghai firms ahead of Fed policy and US debt ceiling issues, oil consolidates

The White House might come forward for US debt ceiling talks with the House of Republicans as Treasury will be out of funds in early June.

This could force the White House to come forward for negotiations with the House of Republicans, which earlier demanded negotiations in the President’s spending initiative against the proposal of raising the debt ceiling. Chinese equities are showing strength despite the turbulent trading environment. Indices are performing better ahead of the Caixindata, which will release on Thursday. The economic data is expected to land at 50.3 lower than the former figure of 50.0. The Chinese economy is in recovery mode after a long period of lockdown due to pandemic curbs.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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