Asian Markets Surge Amid U.S. Shutdown Resolution

Asian stocks rose as the U.S. government shutdown neared an end. The Nasdaq and gold enjoyed significant gains, while markets like the Kospi and Nikkei recovered. The U.S. Senate passed a deal to restore federal funding, positively impacting global markets. Analysts see potential interest rate cuts aiding gold prices.

Asian stocks experienced a rise on Tuesday, buoyed by expectations that the lengthy U.S. government shutdown was close to being resolved. The tech-heavy Nasdaq index and gold saw some of their steepest gains in months, as investor sentiment shifted positively.

The U.S. Senate moved forward a deal late Monday to resume federal funding, with the proposal now headed to the House. Speaker Mike Johnson expressed a desire to expedite its passage, aiming to have it signed into law by President Donald Trump by Wednesday.

Financial experts note that the reopening of the U.S. government could pave the way for data releases and potential interest rate cuts, offering additional support for gold prices. Meanwhile, currency and bond markets showed mixed reactions, with yen weakening and Treasury yields seeing a temporary uptick.

(With inputs from agencies.)