Chinese market returned after a 7-day national holiday: Asian shares rise; US Senate approved to raise the debt ceiling
Asian shares rose today as the Chinese market returned from a week-long national holiday. MSCI’s broadest index of APAC shares outside Japan rose by 0.5%, and Japan’s Nikkei increased by 1.56% at press time. Over the past few months, Chinese shares have experienced high volatility, mainly affected by regulatory uncertainties and turmoil in the real estate sector. The crisis of Evergrande is yet to be settled, and the crackdown on tech giants is still ongoing.
The US Senate has agreed to temporarily raise the $28.4 trillion debt ceiling to avoid a historic default. US futures rose by 0.16% after the news. Later today, we will have the latest non-farm payrolls in the US. Although the figure will not likely impact the Fed’s decision to taper in November, some immediate impact on the currency is possible if the figure misses or beats the expectation at 488k.