Tokyo Stocks Up on News of US Debt Deal

Posted July 31st, 2011 at 9:35 pm (UTC-5)
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Japanese share prices opened higher Monday on news that the U.S. congressiona leaders and the White House have reached a deal to avoid defaul.

Tokyo's Nikkei index rose more than 1.5 percent shortly after the opening.

The dollar was up against the yen and on Wall Street, Standard & Poors futures were up more than 1 percent.

Despite a proposed deal, analysts still believe rating agencies will downgrade U.S. bonds because of the uncertainly of future spending cuts and the general anxiety among investors caused by the debt crisis.