Asian stocks ended mostly higher on Thursday but pared gains after President Obama signed a last-minute Congressional deal to avert a debt default and to reopen the government after a more than two-week shutdown.
Japan's Nikkei and South Korea's Kospi moved off session highs while Australia's S&P ASX 200 closed at a two-and-a-half week high. Emerging markets also benefited with Philippine's PSI leading gains by over 1 percent.
"The next thing markets need to (and to a degree are already doing) think about is how stressful negotiations will be in January and February, when we get to see both political parties revisiting negotiations to avoid a fresh government shutdown and curb the US treasuries ability to borrow in the capital markets (i.e. debt ceiling)," said Chris Weston, market strategist at IG in a note.
(Read more: US crisis over, will China re-think Treasury assets?)