Asian stocks turn up on hopes of US budget deal

SYDNEY: Asian stocks and U.S. stock futures clambered back into positive territory on Wednesday as hopes grew that frantic talks in Washington to avert a U.S. debt default could lead to a deal just before the Oct 17 deadline to lift the borrowing limit.

U.S. senate leaders could announce an agreement soon to raise the debt ceiling and reopen the government, a Senate aide said. Discussions were underway in which the Republican-controlled House, if it cooperated, could help speed up passage of any deal before the deadline.