HONG KONG: Asian shares were mostly higher yesterday as US debt woes were offset by President Barack Obama's offer of a short-term deal to end the political gridlock in Washington.
There was also broad support for stocks and the dollar on news that Obama would nominate Janet Yellen to take over from Ben Bernanke as the United States Federal Reserve chief, raising hopes the bank would stick to its easy money policy.
Tokyo climbed 1.03 per cent to 14,037.84 and Sydney ended flat, edging up 3.6 points to 5,153.0. Shanghai closed 0.62 per cent higher, adding 13.57 points to 2,211.77. Meanwhile, Seoul was closed for a public holiday.
With the government shutdown moving into a ninth day, global investors are concerned the US will not find a way around the budgetary impasse before the October 17 deadline.
However, Obama did say he was willing to accept a short-term deal to raise the US$16.7 trillion (RM53.44 trillion) debt ceiling and reopen the government.
Despite the president's comment, Wall Street saw a big sell-off. The Dow fell 1.07 per cent, the S&P 500 sank 1.23 per cent and the Nasdaq tumbled 2.00 per cent.
In other markets: * Taipei
eased 0.37 per cent to 8,344.73. Taiwan Semiconductor Manufacturing Co was flat at T$105.0 while MediaTek jumped 0.92 per cent to T$382.0.* Wellington
fell 0.59 per cent to 4,710.63. Contact Energy shed 0.19 per cent at NZ$5.29 and Telecom eased 0.43 per cent to NZ$2.30 but Warehouse Group gained 0.27 per cent at NZ$3.68. * Jakarta
ended up 0.56 per cent to 4,457.44. Bank Permata gained 0.72 per cent to 1,400 rupiah, while miner Aneka Tambang fell two per cent to 1,470 rupiah.
* Jakarta ended up 0.56 per cent to 4,457.44. Bank Permata gained 0.72 per cent to 1,400 rupiah, while miner Aneka Tambang fell two per cent to 1,470 rupiah. * Mumbai
rose 1.33 per cent to 20,249.26. Top property firm DLF advanced by 5.76 per cent to 146.95 rupees, while Future Retail rose 5.70 per cent to 77.0 rupees.* Bangkok
gained 0.04 per cent to 1,434.66. True Corporation rose 6.63 per cent to 8.85 baht, while Siam Cement fell 0.92 per cent to 432 baht. * Manila
slipped 1.19 per cent to 6,377.75. Philippine Long Distance Telephone fell 2.34 per cent to 2,926 pesos while Megaworld Corp rose 3.8 per cent to 3.55 pesos. AFP