Asia up as Debt Ceiling Passes U.S. House

Asia-Pacific markets were mostly higher on Thursday after the bill to raise the U.S. debt ceiling was passed in the House of Representatives, advancing it to the Senate just days ahead of the default deadline.

The House passed the bill with support from both Democrats and Republicans, a dramatic conclusion to weeks of tense negotiations between the White House and Republican House Speaker Kevin McCarthy.

In Japan, the Nikkei 225 sprang back up 260.13 points, or 0.8%, to 31,148.01.

In Hong Kong, the Hang Seng forfeited 17.36 points, or 1.9%, to 18,216.91.

Australian markets rebounded off a one-month low.

In other markets

In China, the CSI 300 index recovered 8.33 points, or 0.2%, to 3,806.87.

In Singapore, the Straits Times index regained 7.5 points, or 0.2%, to 3,166.30.

In Taiwan, the Taiex index subtracted 66.31 points, or 0.4%, to 16,512.65.

In Korea, the Kospi index gave up 7.95 points, or 0.3%, to 2,569.17.

In New Zealand, the NZX 50 popped 103.12 points, or 0.9%, to 11,916.13.

In Australia, the ASX 200 moved higher 19.5 points, or 0.2%, to 7,110.81.