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US budget hopes boost Asia stocks

November 20, 2012 • Business


Women walk past an electronic stock indicator in Tokyo, Monday, Nov. 19, 2012 as the yen’s recent weakness helped boost Japan’s Nikkei 225 and its heavy orientation toward exporting companies. The index in Tokyo jumped 1.6 percent to 9,171.26, a two-month high. (AP Photo/Shizuo Kambayashi)

BANGKOK (AP) — Asian stocks rose Tuesday as investors gained confidence that President Barack Obama and the U.S. Congress will reach a budget deal to avert a package of tax hikes and spending cuts that could throw the world’s No. 1 economy into recession.

News of a possible budget deal before the end of the year enabled markets to shake off a credit downgrade that was slapped on France late Monday. France’s Login to read more

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