Asian shares rallied on Thursday, taking heart from a late recovery on Wall Street after U.S. politicans appeared near to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets.
Oil prices also dropped back from multi-year highs hit a day earlier, having been a major contributor to this week’s equities sell off, while U.S. benchmark Treasury yields and major currencies steadied amid the calmer mood.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.25% in early trade, regaining ground lost in recent days to be little changed on the week.
