"US lawmakers on Sunday moved to end a five-week impasse over government funding, a boost for investors unnerved by signs of growing weakness in the US economy and the sky-high evaluations of firms involved in artificial intelligence. After a group of Democrats broke with the party leadership to join Republicans, the US Senate voted 60-40 to advance a bill that would fund government operations through the end of January."
"Stock markets in the Asia Pacific made large gains on Monday, while futures in the US also rose in advance of stock exchanges reopening. South Korea's benchmark KOSPI led the gains, rising about 3 percent as of 4pm local time (07:00 GMT). Japan's Nikkei 225 and Hong Kong's Hang Seng also rose sharply, advancing about 1.3 percent and 1.5 percent, respectively. Taiwan's Taiex rose about 0.8 percent, while Australia's ASX 200 gained about 0.75 percent."
"The reprieve comes as investors are concerned that AI-linked stocks may be wildly overvalued and that Trump's sweeping tariffs could be doing more damage to the US economy than has been captured in headline data so far. Nvidia, whose graphics processing units are integral to the development of AI, last month became the first company in history to reach a market valuation of $5 trillion, a day after tech giant Apple surpassed $4 trillion in"
US lawmakers advanced a bill to end a five-week government funding impasse after a group of Democrats joined Republicans, with the Senate voting 60-40 to advance funding through the end of January. The funding package still needs final Senate approval, passage in the House and the president's signature, a process expected to take days. Asian markets rallied strongly on hopes the shutdown will end, led by South Korea's KOSPI, with US futures also higher. Investors remain worried about inflated AI-linked valuations and potential economic damage from sweeping tariffs, highlighted by Nvidia and Apple valuations.
Read at www.aljazeera.com
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