The majority of Asian indices were able to close the green zone. The Australian ASX crossed to the red territory

Most of the stocks in Asia closed in the positive territory on Monday’s opening session.  The Kospi index in South Korea jumped by 0.66 percent, with steelmakers as its leading advancers. Hyundai Steel and Posco added to their value 3.8 and 3.18 percent respectively. The Japanese benchmark Nikkei 225 index edged up by 0.32 percent; the Topix index closed 0.19 percent higher.

The ASX 200 index in Australia did not follow the trend after falling by 0.21 percent in early trade. It was pulled down by mining stocks, with Woodside Petroleum and BHP slumping by 2.75 percent and 2.3 percent respectively.

Euro recovers from its decline, but  political instability in Italy limited gains

The euro recovered from its decline against the U.S. dollar on Monday. However, concerns regarding the Italian government have prevented the currency from further rising. The possibility of a government that consists of radical rightists and anarchists is perceived as a threat to the eurozone.

The common currency  advanced by 0.35 percent closing at $1.1693. It rebounded from a 6-1/2-month low versus the U.S. dollar last Friday. From a weekly perspective,  it closed 1 percent lower.