Asian stocks follow Wall St higher after Congress debt deal

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stocks have followed Wall Street higher after U.S. lawmakers temporarily averted a possible government debt default while investors waited for American jobs numbers. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Congress has temporarily set aside a dispute over debt to extend the government’s borrowing ability into December. Experts say a default would have devastated the economy in the midst of a recovery from the coronavirus pandemic. Investors were watching for Labor Department employment data they hope will show U.S. employers hired more workers in September. Federal Reserve officials say employment levels are a possible factor in when the U.S. central bank might start rolling back economic stimulus.