On November 11, 2025, the United States Senate passed a temporary spending bill, raising hopes of ending the longest government shutdown in American history. The Asian stock markets saw a general uptick on Tuesday, with gold prices and the Nasdaq index experiencing the most aggressive gains in months.
Overnight, gold prices surged nearly 3%, stabilizing above $4,100 per ounce in early Asian trading. The Nasdaq index rose by 2.3%, recovering most of last week’s losses. Previously, concerns in the market over overvalued artificial intelligence (AI) companies and excessive capital investments had sparked discussions about a potential tech bubble.
In early trading on Monday, South Korea’s KOSPI index rose by 1.3%, Japan’s Nikkei index increased by 0.4%, and Taiwan’s weighted index also saw a rise of 0.61%. S&P 500 index futures remained relatively stable.
On Monday night, the U.S. Senate passed a temporary spending bill, expected to restore federal funding and end the shutdown. The bill has been sent to the House of Representatives, with Speaker Mike Johnson expressing hope to pass the agreement on Wednesday for President Trump’s signature.
Vasu Menon, Managing Director of Investment Strategy at OCBC Bank, stated that the market breathed a sigh of relief as the shutdown neared its end. With the government reopening, economic data can be released, potentially paving the way for interest rate cuts and providing additional support for gold prices.
On Wall Street, the S&P 500 closed up by 1.54% on Monday, marking the largest single-day gain since mid-October. The Dow Jones Industrial Average rose by 0.8%, and the Nasdaq index surged by 2.3%, its largest one-day gain since May.
As market confidence returned, safe-haven assets such as the Japanese yen saw price declines. The yen fell to 154.49, reaching its weakest level since February.
However, due to recent uncertainties raised by Federal Reserve officials regarding market expectations of a rate cut in December, U.S. Treasury bonds recovered some losses after an initial decline.
On Monday, the 10-year Treasury yield briefly rose to 4.147% but closed the day at 4.11%. The U.S. bond market was closed on Tuesday in observance of Veterans Day.
Jack Chambers, Senior Interest Rate Strategist at ANZ Bank, commented, “We do not expect the government reopening to result in sustained bond selling, as the market did not show a strongly negative reaction to the shutdown. The market had always assumed the shutdown would eventually end.”
(The article includes information from relevant reports by Reuters)