By Carla Mozee, MarketWatch
LOS ANGELES (MarketWatch) -- Asian stocks rose Thursday,
bolstered by an agreement in Washington to reopen the government
and raise the debt ceiling in time to meet a crucial deadline.
The U.S. Senate late Wednesday passed the bill to restore
federal operations and fund the government through Jan. 15 and keep
the debt ceiling until Feb. 7. The bill moves to the House of
Representatives, where Speaker John Boehner said he will allow a
vote on it before the Thursday deadline.
Investors worldwide have been concerned that the U.S. could
default on its debt obligations, resulting in a disruption of
business activity and long-running efforts to encourage economic
growth worldwide.
Japan's Nikkei Stock Average climbed 1.1%, as did the broader
Topix index. Australia's S&P/ASX 200 rose 0.3%, paring its
opening gains, and South Korea's Kospi picked up 0.5%.
Japanese stocks were aided by the yen's pullback against the
U.S. dollar, which took strength from Washington's agreement. The
dollar (USDJPY) bought as much as Yen99.05 compared with Yen98.75
late Wednesday.
Among the advancers in Tokyo, shares of Fujitsu Ltd. (FJTSY)
topped advancers as they tacked on 4.6%, and Mazda Motor Corp.
(7261.TO) rose 3.2%.
Also higher were shares of Kansai Electric Power Co. , rising
4.2% after the utility swung to a first-half pretax profit of 31
billion yen ($314 million).
In Sydney, shares of Newcrest Mining Ltd. (NCMGF) underperformed
the broader market, falling 0.9% after the gold producer said it
faces about $115 million in extra tax charges this fiscal year.
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