Shares Gain on US Debt Bill Passage, Fed Pause Talk

A woman walks past a screen displaying the Hang Seng Index at Central district, in Hong Kong, on March 21, 2023. Tyrone Siu/Reuters

LONDON/TOKYO—Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling.

A divided House passed a bill to suspend the $31.4 trillion debt ceiling—and avert a catastrophic default—with majority support from both Democrats and Republicans, stoking optimism that it can move through the Senate before the weekend.