World stocks have rallied as the US Congress looked set to end a federal shutdown, paving the way for an end to a data fog that has fuelled uncertainty over the US economic outlook.

The yen was also in the spotlight as its fall to nine-month lows against the dollar prompted more comments from officials.

European stocks rose to a new record high in early trade , US stock futures pointed to a positive open on Wall Street, while Japan's blue-chip Nikkei and broader Asia equity markets rallied around 0.4 per cent .

The Republican-controlled House of Representatives is due to vote later on Wednesday on a compromise that would restore funding to government agencies and end a shutdown that started on October 1. The Republican-controlled Senate approved the deal on Monday night.

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