Asian shares recover after political tensions in Italy fade out

On Thursday, Asian shares rebounded from a two month low as international markets recovered after political concerns in Italy were mitigated. The Japanese Nikkei climbed 0.37 percent while in Australia, the S&P/ASX 200 gained 0.44 percent. Energy sectors in both Japan and Australia traded higher following oil’s overnight gains of over 2 percent. The subindex Topix oil and coal products went higher by 2.75 percent.

The Kospi in South Korea went higher by 0.62 percent during early trading. Some North Korean exposed stocks climbed on news of a meeting between North Korean official Kim Yong Chol and U.S. Secretary of State Mike Pompeo. Hyundai Cement rose 7.82 percent. In Hong Kong, the Hang Seng index kept flat at 0.43 percent. In the main land, The Shanghai composite rose 0.61 percent after the release of the official manufacturing PMI data.

Euro goes as the political situation in Italy stabilizes

The common currency held onto its overnight gains and traded at $1.1652 at 9:53 a.m. as it seems that Italy's domestic politics stabilized.

In the European stock market, the pan-European Stoxx gained 0.3 percent while Italy’s FTSE MIB recovered by 2.09 percent following its fall in its previous sessions.

Investors are now focusing on the White House’s announcement that it would implement its plans to impose about $50 billion duties on Chinese imports. Analysts predict that this decision will have negative impact on world's stock markets

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