Nikkei gains, Asian shares mostly lower on looming worry over U.S. banks, China growth

This cannot be. Many geniuses on this site want to stop trading with China completely.

Asian shares were mostly lower Friday on looming worries over U.S. banks and lagging demand from China, the region's major driver of growth.

Why JPY keeps going down?

The U.S. government is edging closer to a June 1 deadline where it could run out of cash unless Congress allows it to borrow more. Economists say a resulting default on the U.S. government's debt could be catastrophic for the economy.

This seems to be a non-issue.

The House has already passed a bill to increase the debt limit, and reduce spending by 14% over a decade, or so the headlines say.

So The President just needs to tell his party to pass this in the Senate, and he signs off, and default is avoided.

Politically, there is no way that Biden will do nothing and lead the US to default. He may not want to cut spending, but he will take that over doing nothing and defaulting.

China growing, USA screwing up…what’s new.

China growing, USA screwing up…what’s new.

Every country had a pandemic bump when they exited controls. The US is only at risk of screwing up from the debt ceiling. If we get past that we are golden.

So The President just needs to tell his party to pass this in the Senate, and he signs off, and default is avoided.

Basically surrender and allow the terrorists another blackmail in a year, huh? No thank you.

China growing, USA screwing up…what’s new.

Lol, lemme guess: you read the headline and thought "China growth" instead of "looming worry over... China growth"

Because that's what's the article talks about: looming worry over China growth"

It's on the very next sentences:

Asian shares were mostly lower Friday on looming worries over U.S. banks and lagging demand from China, the region's major driver of growth.

“Asian equities struggled for direction after weak inflation data in China pointed to weakening demand,” said Stephen Innes, managing partner at SPI Asset Management.

China is screwing up!