Kontak Perkasa - Bloomberg (17/10) -- Japanese shares
rose, with the Topix index climbing to a three-week high, after the yen
weakened as U.S. lawmakers reached a tentative deal to end the
government shutdown and raise the debt ceiling.
The Topix gained 1.2 percent to 1,210.66
as of 9:02 a.m. in Tokyo, with all 33 subsectors climbing. The Nikkei
225 Stock Average added 1.3 percent to 14,653.76. The yen fell against
all 16 of its major peers and traded at 98.91 per dollar.
Futures on the Standard & Poor’s 500
Index gained 0.1 percent. The measure yesterday added 1.4 percent as
the bipartisan leaders of the Senate reached an agreement to end the
fiscal impasse and increase U.S. borrowing authority. The Senate is
currently voting on the deal, while the House plans to do so later
today. The White House press secretary said it has President Barack
Obama’s support. House Speaker John Boehner said Republicans won’t block
the Senate compromise.
With no deal, the U.S. would exhaust its
borrowing authority today and the government may start missing payments
at some point between Oct. 22 and Oct. 31, according to the
Congressional Budget Office. Fitch Ratings put the world’s biggest
economy on watch for a possible credit downgrade yesterday, citing
lawmakers’ inability to agree.
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 8:40 AM
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