Asia Mostly Higher as U.S. Debt Ceiling Raised

Asia-Pacific shares mostly rose as traders look ahead to the U.S. May jobs report, with Hong Kong’s Hang Seng index trading as high as 4% and leading gains in the wider region.

In Japan, the Nikkei 225 hiked 376.21 points, or 1.2%, to 31,524.22.

In Hong Kong, the Hang Seng popped 733.03 points, or 4%, to 18,949.94.

The consumer and real estate sector steered the index’s advances, with investment holding company Longfor soaring 14.48% and automotive company Zhongsheng Group surging more than 8%. Tech giants like Baidu, and Alibaba also rallied.

Korean markets rallied as the country’s consumer inflation for May cooled to a 19-month low, easing for the fourth straight month

In the U.S., the House of Representative passed a bill to raise the debt limit and place a cap on government spending by a wide margin late Wednesday, sending the bill to the Senate just days before Monday’s U.S. default deadline. Senate Majority Leader Chuck Schumer said the chamber would pass the bill Thursday night.

In other markets

Markets in Singapore were closed for holiday.

In China, the CSI 300 index jumped 54.96 points, or 1.4%, to 3,861.83.

In Taiwan, the Taiex index regained 194.26 points, or 1.2%, to 16,706.91.

In Korea, the Kospi index recovered 32.19 points, or 1.3%, to 2,601.36.

In New Zealand, the NZX 50 fell 35.23 points, or 0.3%, to 11,880.90.

In Australia, the ASX 200 moved higher 34.33 points, or 0.5%, to 7,145.14.