Asian equities rose, with Japan’s Topix index hitting its highest close since 1990. Hong Kong stocks rose by over 1% following an increase in the Nasdaq Golden Dragon China Index. Michael Burry also raised his bullish bets on Alibaba Group and e-commerce giant Inc. as filings showed. South Korean stocks rose, supported by chip stocks due to a possible merger between Kioxia Holdings and Western Digital Corp. Investors await a meeting between President Joe Biden and House Speaker Kevin McCarthy. The US debt-ceiling impasse is a headwind for the equity markets, according to Marko Kolanovic at JPMorgan Chase & Co.
