It’s shaping up to be a busy week for Asian markets: a possible U.S. government shutdown looms, central banks in Japan and Australia meet, a decision on a controversial rise in Japan’s sales tax is due and a snapshot of Chinese manufacturing activity is on the agenda.
Budget spending must be agreed by the U.S. Congress before October 1 to prevent a government shutdown that could leave federal employees facing unpaid temporary leave. The prospects of the first shutdown in 17 years was looking more likely after U.S. lawmakers failed to reach an agreement on budget funding over the weekend.
“I think there is a good chance of the government shutting down, it has happened before,” Paul Bloxham, HSBC’s Chief Economist for Australia and New Zealand, told CNBC Asia’s “Squawk Box.”
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