Asian stocks today: Markets trade in green over US shutdown ending hopes; HSI climbs over 160 points, Nikkei nears 1% gain

Asian equities climbed on Monday, supported by optimism that a US government shutdown may be avoided and recovering from last week’s concerns over AI valuations.Hong Kong’s HSI climbed to 26,409, up 167 points or 0.64%. Kospi traded up 112 points or 2.8%, reaching 4,065. In Japan, Nikkei gained 490 points or 0.98% to stand at 50,766.Shanghai traded marginally higher, adding 2 points.Meanwhile, Shenzhen dipped 31 points to 13,372 at 8:40 AM IST.The US Senate moved closer to a vote on reopening the federal government on Sunday, following Senate Majority Leader John Thune’s remarks that bipartisan talks in the chamber have taken a positive turn. The shutdown has placed considerable strain on the US economy, with federal workers across airports, law enforcement, and the military going unpaid, while government reporting has been limited, leaving the central bank to operate with less visibility. White House economic adviser Kevin Hassett warned that the nation’s fourth-quarter GDP could turn negative if the shutdown persists.Consumer sentiment data released on Friday highlighted growing concerns, showing a decline to near a three-and-a-half-year low in early November as households weighed the economic impact.Despite these challenges, overall risk appetite remained positive on Monday. European futures were notably higher, with EUROSTOXX 50 and DAX futures up 1.3% each, while South Korea’s Kospi surged 2%.US treasury yields edged upward, with the benchmark 10-year yield rising 3.5 basis points to 4.1278%, and the two-year yield increasing roughly 3 basis points to 3.5886%.In currency markets, the dollar recovered some ground from last week as investors weighed the economic outlook against expectations of a more hawkish Federal Reserve.