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Stock market today: Asian shares mostly rise on hopes for US debt deal, but China declines

19 May 2023 09:15 (UTC +04:00)

Asian shares rose on Friday and the dollar hung near a two-month peak as increased hopes of a deal over the U.S. debt ceiling and strong economic data lifted sentiment, while Japan's Nikkei jumped to highest in nearly 33 years, APA reports citing Reuters.

Australia's S&P/ASX 200 index (.AXJO) rose 0.66%, while Japan's Nikkei (.N225) continued its ascent, rising to its highest since August 1990, during the country's so-called bubble era.

Futures indicated European stocks were set to open higher, with Eurostoxx 50 futures up 0.44%, German DAX futures up 0.41% and FTSE futures up 0.23%.

U.S. President Joe Biden and House of Representatives Speaker Kevin McCarthy, the top Republican in Washington, hope to finalise a deal on the debt ceiling after Biden returns from the Group of Seven meeting in Japan on Sunday.