Asian shares, US futures rise on debt ceiling deal

Asian shares and US stock futures have both risen following a deal between US President Joe Biden and congressional Republican Kevin McCarthy to suspend the government’s debt ceiling. This ends months of concern and anxiety among investors who feared an economically destabilising default. The deal will now go through the Democrat-controlled Senate and House of Representatives. The positive news lifted the S&P 500 futures by 0.4%, while the Nasdaq futures firmed by 0.6%. AMSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.3%.