Stocks surge in Asia as US averts default, Fed pause bets rise

SINGAPORE : Asian stocks jumped on Friday on increasing expectations that the Federal Reserve might stand still on rates and after the U.S. Senate passed legislation lifting the government's $31.4 trillion debt ceiling, avoiding a catastrophic default.

The Senate voted 63-36 to approve the bill that was passed on Wednesday by the House of Representatives, as lawmakers raced against the clock to avert what would have been a first-ever default. The Treasury Department had warned it would be unable to pay all its bills on June 5 if Congress failed to act.

Markets are now pricing in a 20 per cent chance of the central bank hiking by 25 basis points compared to a 50 per cent chance a week earlier, according to the CME FedWatch tool. The spotlight will be on the Labor Department's closely watched unemployment report for May, due later on Friday. The data will help determine whether the Fed sticks with its aggressive rate hikes.

Australia's S&P/ASX 200 index rose 0.42 per cent, while Japan's Nikkei was 1 per cent higher, continuing its hot run.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Asia stocks rise amid Fed pause talk, debt bill passageTOKYO : Most Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling.A surprise swing to growth for Chinese factory activity also provided in lift to s
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

Asia stocks gain as Fed hike bets recede, debt vote eases nervesTOKYO : Most Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage of the U.S. debt ceiling bill through the House.The dollar sagged to a one-week low versus the yen and hung close to Wednesday's more-than-two-month trough to the euro af
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

Asia stocks, yuan slump as data dashes China hopesSINGAPORE : China's yuan hit a six-month low and Asia's stockmarkets staggered toward a second month of losses on Wednesday as weak factory activity figures offered the latest evidence that recovery in the world's second-biggest economy is faltering.MSCI's broadest index of Asia-Pacific shares outside Jap
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »