HONG KONG (AFP): Asian markets rallied Thursday (Oct 7) as investors breathed a sigh of relief that the United States looked set to avert a catastrophic debt default after Republicans offered a deal to raise the country's borrowing limit.
Joe Biden and Xi Jinping's decision to hold a virtual meeting also provided a much-needed boost to trading floors that have been starved of good news in recent weeks as they battle a string of problems including surging inflation, an expected taper of monetary policy and a growing energy crisis.
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