Asian Shares Mostly Rise Despite Prolonged U.S. Debt Talks

Asian shares mostly drifted higher Monday as investors fretted whether the United States government would be able to reach a deal to avoid a federal default, Yuri Kageyama reported for the Associated Press (AP).

Photo Insert: The Dow Jones Industrial Average fell 109.28, or 0.3%, to 33,426.63, while the Nasdaq composite gave up 30.94, or 0.2%, to 12,657.90.

Japan’s benchmark Nikkei 225 gained 0.9% to finish at 31,086.82. Australia’s S&P/ASX 200 slid 0.2% to 7,263.30.

South Korea’s Kospi gained 0.7% to 2,554.97. Hong Kong’s Hang Seng jumped 1.7% to 19,779.38, while the Shanghai Composite edged up 0.4% to 3,295.07. Wall Street closed out last week lower. The S&P 500 slipped 6.07 points, or 0.1%, to 4,191.98.

The Dow Jones Industrial Average fell 109.28, or 0.3%, to 33,426.63, while the Nasdaq composite gave up 30.94, or 0.2%, to 12,657.90.

On the positive side, US Federal Reserve Chair Jerome Powell made comments Friday to indicate the Fed may leave interest rates alone at its next meeting in June. After Powell spoke, Treasury yields gave up some of their gains from earlier in the day as traders ratcheted back bets for another Fed rate hike in June.

The yield on the 10-year Treasury rose to 3.69% from 3.65% late Thursday. That yield helps set rates for mortgages and other important loans.

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